Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

It is very clear that the Commission is recommending something that Sinn Féin has putting forward for many years, namely, that the banks must deal with the fact that many households will not be able to pay the full amount on their mortgage and the solution is either repossession or the current position, which involves selling off to vulture funds, which will end up in the same position. The write-off of debt is the norm with business loans but for some reason, banks shy away from that option when it comes to domestic mortgages. Has the Minister had discussions with the chief executive officers, CEOs, of State-owned and controlled banks or where the State has a majority shareholding in the bank about the recommendation from the Commission that banks would pursue a policy of write-off of arrears?

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