Yes, the banks need to reduce their bad loans. But this cannot be achieved at Irish society’s wider expense

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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