Joan Burton (Dublin West, Labour) | Oireachtas source

To get the economy working again fully - we have started the recovery - we must sort out the issues arising from liquidation. I am very confident the mortgage holders will find that, as has happened in previous cases in this respect, the advice and codes of conduct established by the Central Bank will be adopted. Nothing else makes sense, if I may say so, for the purchasers of the mortgages, whoever they may be and whether they are from Ireland or from abroad, because at the end of the day they will want to recover their money. If, as the Deputy suggests, they will buy some of the mortgages at a discount, it will make sense for them to treat their customers very well because it will ensure they recover the money they invest in the deal. This is what has happened in Ireland and other jurisdictions where unfortunately there has been this type of bank collapse followed by liquidation of financial institutions.

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