Yes, the banks need to reduce their bad loans. But this cannot be achieved at Irish society’s wider expense
In the course of 2010, I spent a considerable amount of time at meetings in the Department of Finance as Flac’s representative on the government-appointed Mortgage Arrears and Personal Debt Group.
The group was comprised of stakeholders from the banking, regulatory and governmental sector. During the course of our work, I regularly found myself in a small minority and, occasionally, in a minority of one. Two particular areas were no-go. The first was proposing in...
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