Paschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

The guidance from the European Banking Authority on the matter was that economy-wide payment breaks should not be extended. As of yet I am not aware if other governments or regulators have decided to extend further the measures they have in place. Comparing where we are versus other countries, those other countries have put in place very different arrangements. Superficially they may in some ways look more attractive but they are more limited and, in many cases, they have not seen the breadth of impact seen with the measures we introduced in Ireland.

Potential future capital consequences can be avoided on a bank-by-bank basis through engagement between customers and banks. One of the most important ways the issue the Deputy refers to can be avoided is for such engagement to take place, restructured loans to be agreed upon and those restructured loans to be honoured.

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