Michael McGrath (Cork South Central, Fianna Fail)
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I welcome the Governor, Professor Honohan. During the course of our hearings with the banks in recent weeks, when we collated all of the data which were being presented, it became clear that in excess of 30,000 individual mortgage arrears cases were either in the legal process or had a threatening legal letter issued by their bank. It seems, from looking at the figures, that while the banks state they have reached the targets by the Central Bank, they have relied very heavily indeed on the threat of legal repossession to achieve those targets. Is Professor Honohan satisfied with that?