Billy Kelleher (Cork North Central, Fianna Fail) | Oireachtas source

That is not evident in anything I have seen regarding how the banks are treating individuals who are vulnerable and under stress. Taking the whip from their hands and giving it to somebody else is a sensible, solid proposal which has already been highlighted in this House.

I am disappointed in the dismissive approach that has been taken and am not accepting the fact that 37,000 people are two years in mortgage arrears. It is highly unlikely that they are all up in Gorse Hill in Killiney. There are ordinary families throughout the country who would like to be able to pay their mortgage and make an effort to settle their debt, but want a certain element of security and to know they can do so in a manner that has been validated independently. Over the next months, the Minister of State is going to see an increase in repossessions because the banks now know that the Government, using its moral authority, will say nothing but will sit meekly and weakly on its Government benches. Every now and again, the Government Deputies will stand up and say, "well, we told you so when we were in opposition, we did not support bank guarantees and would have stood up to the banks".

The bottom line is that the Government now has an opportunity to do the right thing, not for the banks but for the people.

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