Phil Hogan (Carlow-Kilkenny, Fine Gael) | Oireachtas source

There is no easy way to maximise the return for the taxpayer from the sale of a loan book, especially at a time when the pillar banks in this country, like society in general, have very few options when trying to access credit for people who wish to retrieve their loans from those institutions. Those who wish to buy products from NAMA or the IBRC or from loan books generally, which is desirable if we are to maximise the return for the taxpayer, are depending largely on institutions outside this country. The sad situation in this country is that the low level of liquidity in the financial institutions means that people are finding it difficult to retrieve and buy back their loans. As policy makers, we continue to worry about the moral hazard issue when we are making decisions. The Deputy referred in her contribution to people who are paying their loans in the normal way and do not want to subsidise others who have made no effort to deal-----

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