Oireachtas Joint and Select Committees
Wednesday, 25 September 2013
Joint Oireachtas Committee on Finance, Public Expenditure and Reform
Matters Relating to the Economy: Discussion with Governor of Central Bank
4:20 pm
Richard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance)
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Should we not inform our friends in the ECB that this is their problem too? Is it not the case that we should we impose a solution similar to the Norwegian model whereby we write down distressed mortgages to current market value plus 10%, whatever that value might be, and inform the ECB that this is also its problem? Should we not do this and face reality? At present, we are not facing reality and huge numbers of people, and the economy in general, are being crushed as a result. The ECB is certainly refusing to face reality.