Dominic Hannigan (Labour)

Last week the Labour Party tabled a motion in the Dáil calling for additional help for distressed home owners in view of the thousands of families throughout the country who are having difficulty paying their mortgages. Indeed, today's newspapers report that more than 1,000 families every month are seeking help from the Government. In some months there are 2,000 families seeking help. At present, interest rates are very low. Imagine what will happen next year if interest rates increase, as is planned.

The Labour Party motion was voted down but I am glad to read today that the Irish Banking Federation has issued a statement of intent regarding how it will deal with people who get into difficulty. Its basic message is that if people go to their bankers at the earliest opportunity, the bank will seek to put a solution in place that will work for both the homeowner and the bank, and if the homeowners keep to their side of the agreement, the bank will not take any legal action and will review the situation every six months. This is a very welcome development. The clear message must be conveyed to people that if they get into economic difficulties, there are agencies that can help. They can call to their local money advice and budgeting service, MABS, office and go to the bank. They must confront the problem head-on and, hopefully, arrive at a solution to survive their current economic difficulties.

Every Sunday the Venezuelan President, Mr. Hugo Chavez, gives a weekly address on television to the nation. Last Sunday, he announced he is sending troops to the border with Colombia and told his people to prepare for war. This follows an agreement between Colombia and the United States which will allow the US military access to seven bases in Colombia. It is a very serious development and the Colombian Government intends to raise the matter with the UN Security Council. Will the Leader request our Minister for Foreign Affairs, Deputy Micheál Martin, to apply pressure at both European and UN level to ensure relations between Colombia and Venezuela do not deteriorate further?