Irish Central Bank Governor Urges Banks To Speed Up Home Reposessions

‘TDs have criticised Central Bank governor Patrick Honohan after they said he signalled that he wanted repossessions speeded-up.

People Before Profit TD Richard Boyd Barrett said the Central Bank should be pushing debt forgiveness not increased repossessions.

“Prof Honohan seemed to implicitly state that the banks needed to bring about more repossessions to deal with the situation.

“The governor appears to be urging the banks to repossess. I think that is completely the wrong approach. What we need is debt writedown and debt forgiveness, and the Central Bank should be imposing solutions which keep people in their homes,” he said.’

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