Joan Collins (Dublin South Central, Independent) | Oireachtas source

The Taoiseach's Government saved the banking system but at a huge cost to ordinary people. It might seem that everything is fine. Bank of Ireland made a profit of €1 billion last year. It is paying a dividend to shareholders for the first time since 2008. The new chief executive is doing well too on €1 million a year. The European Central Bank, ECB, does not agree. There are €34 billion in non-performing loans in the system - the reason for the ECB pressure to resolve the situation. This one size fits all European policy is not enough.

I do not believe Bank of Ireland will be as generous in compensating those on tracker mortgages from whom it stole money. On Monday night, there was an attempted eviction of a family in Balbriggan. This family was engaged with the bank and was paying the agreed amount. However, a move was still made to move the family out of its home. The main point I want to make is that the Central Bank regulations, the mortgage arrears resolution process, MARP, does not guarantee no repossessions if people engage with the lender. I have experienced that as I am sure everybody in this Chamber has. Some 10% of Members go to Mr. David Hall of the Irish Mortgage Holders Organisation looking for support. We are all engaging in these situations with the bank. I repeat the point that there is a solution and there is action that can be taken. The Taoiseach should bring in a law, amend the Housing Act 1998 and try to attempt to stop evictions and make sure people do not go into homelessness.

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