Marc MacSharry (Fianna Fail) | Oireachtas source

I join with colleagues in welcoming back Senator David Norris. It is good to see him.

I propose an amendment to the Order of Business to ask that the Minister for Finance, Deputy Noonan, or whatever Minister is available, comes to the House today to discuss the new voluntary code of conduct on mortgage arrears announced by the Central Bank of Ireland and the personal debt crisis which is now the burden of so many households throughout the country. Mr. David Hall of New Beginning has said it is reprehensible that the Central Bank of Ireland has simply rolled over for the banks in this regard. FLAC has also expressed its concern about the new voluntary code of conduct. Some of the toothless measures in the old code of conduct, which at least prevented the banks harassing people by contacting them more than three times a month, will be removed. Now within 30 days the banks can set about repossessing a family home. Some 53,000 people are out of the moratorium period announced this morning. A further 100,000 people are in mortgage arrears and now the banks are in absolute control.

Yesterday I called for a criminal investigation into how the authorities in Anglo Irish Bank managed to force the hand of the Central Bank and demand what they wanted be done, but we now see it happening again. The Central Bank is rolling over in favour of the banks. This week we saw the Minister for Finance celebrate the new bank deal and how the EU will deal with bank failures in the future. More power to him for his efforts on our behalf in Europe but the public can legitimately ask, what is in it for the people? We put forward the Family Home Bill, the Debt Settlement and Mortgage Resolution Office Bill and countless other measures and proposals to give tangible support to people and to the silent crisis with which families throughout the country are struggling.

Today the Government's only act is to allow the Central Bank of Ireland to roll over and capitulate in favour of the banks. What is in it for the people? For that reason, we propose an amendment to the Order of Business because it is time the people got some level of representation and some bone thrown to them by Government and the EU for taking all of the pain in this crisis.