Saturday February 22, 2020

Banks must be forced to forgive and forget

A comprehensive debt mediation system is needed to aid the recovery of the economy

23rd April, 2011

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 €100,000 -that...

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