Fidelma Healy Eames (Fine Gael) | Oireachtas source

Any of these people could have been our sisters, mothers or daughters. This is highly significant and I wish to put as much on the record.

I was flabbergasted today by a story in The Irish Times that our pillar banks could consider writing off some of the ¤400 million debt of Independent News & Media, the largest newspaper group with popular titles such as the Sunday Independent and the Irish Independent. What is the justification for this when they will not even write down the mortgages for hard-pressed homeowners and given that we have learned today that AIB is considering raising variable rate mortgages for 300,000 homeowners? It is ridiculous. I was pleased to read that senior Government figures are highly concerned about this. However, I wish to know and I believe the House wishes to know details of the conditions our Government has set on State moneys given to pillar banks. Are preconditions in place? What type of accountability is in place for the State-owned pillar banks to the Oireachtas and to Members?