Michael McGrath (Cork South Central, Fianna Fail)
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But then the targets were set and, all of a sudden, there was a gush, with tens of thousands of these letters being issued by the banks. Professor Honohan said they did not do so just to meet the targets, but the consequence has been that they have met the targets because they have issued so many threatening legal letters. Professor Honohan might argue they had to be issued anyway.