Micheál Martin (Cork South Central, Fianna Fail) | Oireachtas source

The Taoiseach did not answer the question I asked. Why is the Government insisting on the banks retaining a veto over all restructuring deals with its customers? Last week, when I was in Ashbourne, County Meath, I met a young couple - the husband is working - in mortgage difficulties who want to do a deal and are anxious to make a contribution. All the bank does in return is up the bar with fresh obstacles. In another case I have been dealing with for 12 months, which involves a public servant who has an income and can make a contribution, the bank has told the couple to sell their house. I met another couple last week in Ashbourne - there seem to be quite a number of people in mortgage difficulties in the area - who are facing a similar issue. The rhetoric they hear in this House is incredibly disconnected to the reality they have experienced on the ground for the past number of years when dealing with the banks. They do not see themselves in limbo. Quite a lot of them see themselves in purgatory and are unsure where they are going to end up.

The problem is that the Taoiseach and the Government have facilitated the banks all the way in this case. Two years on, talking tough is not enough. Telling the banks they must do this and must do that is not enough. Fianna Fáil put forward a debt settlement office Bill which would provide for an independent debt settlement office to arbitrate in matters regarding household debt between the banks and the customer. The banks have been given a fair opportunity here. Why this insistence on the banks having a veto in these arrangements? Why the insistence that the banks be facilitated all the way with regard to this matter?

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