Liam Twomey (Fine Gael)

I believe the issue of fixed rate mortgage repayments can be addressed.

The point that the banks will not repossess any house for 12 months is a red herring. A bank would easily wait 12 months or more before it would apply for a repossession order, attempting other ways to resolve the arrears. When people took out fixed rate mortgages, they were not anticipating this financial crisis no more than the Minister of State or I were. Banking continues in other aspects. I run a business myself in which I pay banking fees, overdrafts and mortgages. While not seeking concessions in this area, I am asking about that particular group of people who are being hit by mortgage repayments due to what is happening in the wider economy.

There is a need for leadership in resolving this. Small actions often matter much. The Government has too much of a hands-off approach to the banks. Telling the banks the State will not take control of them is an opt-out clause to allow them to do their own thing. We are challenging those actions and decisions in the banking sector that may be legally correct but are morally wrong.