Joan Burton (Dublin West, Labour)

I note the Minister is very fond of the word "disappointed" with regard to the wrongdoing of Seán FitzPatrick in the window-dressing of the balance sheet of Anglo Irish Bank at the end of a year, as well as the provisions of Permanent TSB to lend money. That was probably one of the most outrageous events in the history of Irish banking when the balance sheet of a major bank was altered, yet all the Minister could say was that he was disappointed. The Minister has again told us today that he is disappointed. Is he disappointed that every Irish banking institution appears ready to increase mortgage lending rates by 100 basis points? Would he agree that these mortgage rate increases are separate to the likely 100-150 basis point increases that are coming down the road from the ECB? Within a relatively short period of time, it is likely that many Irish mortgage holders will be hanging on by their fingernails. Does the Minister agree that keeping a roof over the heads of Irish families has to be public policy, especially when we have already bailed out the banks and will be doing so again?

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