Ciarán Lynch (Cork South Central, Labour)
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I am going to make an intervention here because, unfortunately, this is reflecting a similar situation we had with Bank of Ireland when the bank's representatives appeared before us. Deputy Donnelly is not asking about blanket forgiveness. He is asking that on a case-by-case basis, in situations where people cannot meet the full sum of their mortgage, with regard to any forbearance that can be given to them, will there be situations where there will be debt adjustment, debt write-off, debt write-down or debt forgiveness, whatever vernacular or vocabulary we apply to it?

The personal insolvency legislation is about getting people out of their current difficulties and back functioning in the economy. There are people in despair who cannot see daylight on the horizon because of debt that is shored upon them. The question that is being put to you, Mr. Considine and Mr. Walsh - and Deputy Mathews has pointed out that the CEO is a servant of the board - is whether you, as public interest directors, envisage a situation where people who are in insurmountable debt will be able to avail of the insolvency legislation and have some of that debt lifted off their shoulders.