Mick Wallace (Wexford, Independent) | Oireachtas source

I am sure most people are agreed at this stage that the failure of the banks to deal with the mortgage arrears problem has hindered recovery. It now seems to be having a knock-on effect on the rental market because many people who would have bought property if the waters had been a bit clearer have not done so. Rental properties are now becoming scarce, as many people have refused to buy because they are not sure where the bottom of the market is going to be.

Does the Minister consider that much of the renegotiating the banks are doing is short-term work rather than long-term? Maybe we are just kicking the can down the road a little and the problems will crop up again further down the line.

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