Insolvency Guidelines are "a bankers' solution to people's problems": Doherty
Sinn Féin finance spokesperson, Pearse Doherty TD, has criticised the new insolvency guidelines. He said the guidelines leave the final say with the banks.
Deputy Doherty said :
"There is nothing in these guidelines to offer much hope to the tens of thousands struggling to pay their mortgages. Once more, the government has sided with the banks and not the people.
“These guidelines are a bankers' solution to people's problems, to a societal problem.
“They condemn people to live for years hand to mouth because the banks have been so irresponsible with lending and so unresponsive to reasonable restructurings.
“Yet, once again the banks are rewarded and protected. Once more they have the final say.
“This week we see these bankers' guidelines and next week we will see the government moving to allow a greater number of repossessions through a Dáil Bill. We know too that they are to allow more harrassment of borrowers.
“It is now as clear as day that the government's answer to the mortgage crisis is the same as the bankers' answer- to squeeze every last penny out of people and even move to allow repossessions.
“The banks' veto must be removed. That means amending the Personal Insolvency Act to remove their veto and not facilitating repossessions of the family home.”