Michael Noonan (Limerick City, Fine Gael)

I asked the Keane group to report by the end of September. It did that. It did not involve outside bodies because I wanted an initial blueprint to put before the House so we would have some kind of framework for action. It is not true to say the group ignored the banks, or took the side of the banks. Like much of the language of the public service, the group's language is unemotional. If one examines the report closely, one will see it is not in favour of the bankers. In effect, the group's proposals change the balance between mortgage holders and bankers. That is an essential piece of placement that has to be done at the start. The report recommends a fundamental reform of the relationship between the lender and the borrower. That is the key concept that is underpinning the proposals. Many of the changes suggested in the report will place additional constraints on the institutions. The institutions will not like the proposed bankruptcy reform, for example. Do Deputies think the institutions want people to be able to work their way out of bankruptcy in three years?

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