Interest rates on credit cards are utterly obscene. How can banks, which make over a €1 billion profit per year, possibly justify charging people – assuming that they are not landed with surcharges for failing to make monthly repayments – 18% to 22%? Inflation is 4.8% at present, while wholesale interest rates are 2%. The banks, therefore, are making profits of between 16% and 20%. The message needs to go out, loud and clear, that this is not acceptable.