Banks must be forced to forgive and forget

When a bank holds a loan worth €200,000 it is an asset valued at that figure. Even if the security for the loan is a property that has fallen in value to €100,000.

So it is no surprise that banks will do whatever it takes in order to avoid turning their asset into a 50 per cent loss. In fact, even if the loan getting into trouble it doesn’t get written down to ...