Enda Kenny (Mayo, Fine Gael) | Oireachtas source

Yes but clearly, as happened in other jurisdictions where these letters arrived, and where there was no engagement, it brought a measure of engagement hopefully leading to a conclusion that is in everybody's interest. We deliberately inserted in the Act a section whereby a judge has a right to put a stay on all processes of repossession until every option and circumstance involved in a person's mortgage is explored and discussed. In that way, every possibility of having a sustainable solution to the problem - and, as the Deputy is aware, all the circumstances are different - can be put on the table.

The Governor of the Central Bank, Professor Honohan, is completely independent. He has been strong in saying he wants the banks to do more and we all share that view. The Cabinet sub-committee on mortgage arrears was established to engage, through the Department of Finance, with the banks and the Central Bank so that everybody understands all the options that are on the table and how they can be processed. It would be great if another 20,000 or 25,000 arrangements were made in addition to the 80,000 already agreed.

It is important to wait to see the analysis and audit by the Central Bank of the figures submitted by the banks. How serious are they, are they real and is there any attempt to put in figures and numbers just for the sake of it? These matters concern people in their homes who are anxious to work out a sensible solution. Ultimately, it has to be done either directly with the lender or through the personal insolvency practitioner who has authorisation, through the agency, to work through all the circumstances of any individual mortgage in distress.

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