Lisa Chambers (Mayo, Fianna Fail) | Oireachtas source

Any trust that was starting to be restored in our banking system has been shattered. How did 11 institutions end up doing the exact same thing? Are citizens expected to believe that it is a coincidence? It is quite likely, as people expect, that we will no evidence to support that suggestion when this process ends. However, it is what people believe and they will always believe it.

These banks put their hands into people's pockets, took their money, kept it in their accounts and, in some cases, repossessed their homes. They put thousands of people under severe financial pressure, resulting in mental and physical stress, illness and the breakdown of families and relationships. It is difficult to see how adequate compensation could ever be offered to any of those people. The State is the largest stakeholder in some of these banks and institutions, yet they have not even owned up to those who are affected. They have not reinstated the tracker mortgages, refunded the money owed, or given compensation. It is difficult to see if there is any remorse whatsoever.

People had to detail their mental anguish in public to get this Government to act. Were it not for the actions of Deputies Michael McGrath and John McGuinness at the committee and in this Chamber, it seems the Government would never have acted. Ministerial reaction to this has been extremely slow. The Ministers were forced to show their hand and the response this evening is quite lethargic.

It appears to people that the Government is extremely uncomfortable coming down hard on the banks and the Government will find it hard to shake that perception.

We need accountability. We need people to stand up and be counted and for them to take responsibility for their actions. There must be consequences for those actions. Unless there are consequences at the top for those that instigated these actions, there will be no proper compensation or justice for the people affected.

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