Michael D'Arcy (Fine Gael) | Oireachtas source

Reports on the troika's latest review state that it is very concerned about legacy tracker mortgages. I also note the percentages of tracker mortgages on the mortgage books of Permanent TSB, AIB and Bank of Ireland are 50%, 40% and 30%, respectively. These mortgages all are losing money for the aforementioned three institutions. I call on the Leader to ensure that nothing happens with tracker mortgages for those lending institutions until such time as some reciprocation from them towards their clients and customers is evident. The expectation of both the previous Government and the present Administration always has been that if the financial institutions could be placed back onto a sound footing, they would reciprocate through funding for businesses and those who are in mortgage distress and would help out those people in difficulties. Unfortunately, every time the present Government and its predecessor have helped out the financial institutions, there has been no reciprocation. Nothing is coming back from these lending institutions. The best example I can give relates to Bank of Ireland, about which it was suggested that the old parliament building facing Trinity College on College Green could come under State ownership. The suggestion was that it could be made into a museum that would act as an important focal tourism attraction for the city of Dublin. However, nothing was forthcoming from Bank of Ireland. It is clear that for these lending institutions, it is all take. I say "Stop". They should be given nothing until they are seen to be coming around to helping out the citizens who are their clients and customers.