Michelle Mulherin (Mayo, Fine Gael) | Oireachtas source

I have the floor. Such a policy is not helpful in the overall scheme of things. Every time a debt is written off it is ultimately paid by the taxpayer and citizens of this country. We have to be sympathetic and mindful of the distressing and life-changing situations for families. We have to be responsible in our response. We must hold the banks to account. They need to wake up and smell the coffee. They must diligently engage with those in mortgage debt - particularly on family homes - in order to set up humane restructuring arrangements. Unless people can have sustainable debt, the economy will not recover and the banks will not enjoy full recovery. It is in the banks' interest to do it and they need to do it sooner rather than later in order to help the people affected and, in the bigger scheme of things, to get the economy fit for purpose once again.

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