Mortgage Arrears: Unstoppable force meets the immovable object

Even talk of repossessing homes makes the government jumpy. But economic reality demands it, writes Pat Leahy.

17th March, 2013
Matthew Elderfield of the Central Bank with Michael Noonan, Minister for Finance: repossessions are a fraught area politically. Photo: Tony O'Shea

Time and again over the course of the great financial crisis, the implacable demands of economic realities have clashed with the imperatives of politics.

Financial power moves with lightning speed, but politics is a slow process of cajoling and compromising. Relentless economic forces cannot be denied; politics cannot be ignored.

That tension is at the heart of the great balancing act of our national and public life right now, in the form of the public's...

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