There will be social and economic consequences at the sale of AIB shares - Kenny
Sinn Féin Agriculture spokesperson Martin Kenny TD has expressed his concerns at the economic and social repercussions at the sale of AIB shares.
Speaking today, Teachta Kenny said;
“When AIB was in trouble, the taxpayer had to pay and now that it is making money, we are handing it back to the private sector.
“The real cost of this sale will not be measured in money, but in the damage and social cost to the Irish people, Irish mortgage holders and Irish businesses alike.
“As soon as the privatisation process started, we heard reports of AIB ramping up repossessions and the sale of loans to vulture funds.
“I understand that a large loan portfolio including agricultural land and people’s homes is being prepared for sale by AIB already.
“Many of the families are in arrears because of the cost of bailing out the likes of AIB. Now these same people are at the mercy of a private bank. The injustice of it is clear but this government panders to the private sector while Irish people suffer.”