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Sinn Féin protesters occupy Bank of Ireland branch for failure to pass on interest rate cut

18 November, 2011


Sinn Féin members are protesting at Bank of Ireland branches in Dublin and Cork at the bank’s refusal to pass on interest rate decreases to mortgage holders. Over 100 protesters were at the Bank of Ireland in O’Connell Street, Dublin where they staged a sit-in.
“There are people in real trouble with their mortgages because of an economic mess that has nothing to do with them," said Dublin City councillor, Larry O'Toole. "The banks, which we have bailed out, are not even passing on the ECB’s interest rate cut,” he continued, at the O’Connell Street protest in Dublin today.
“There is widespread mortgage distress, but the government has done nothing to help people. Now, it won’t even stand up to the banks which have not passed on the interest rate cut. Today the Central Bank has confirmed that 100,000 households are in trouble with their mortgages and 100 people’s homes were repossessed in the last three months,” he said.
“The banks are defying the government and the people are paying the price. We are calling on the government to stand up for the people and on the banks to pass on the rate cut to their hard-pressed customers,” he concluded.
ends

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