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30/04/2015
Sinn Féin Calls On The Government To 'Stand Up To Banks'
The Taoiseach Enda Kenny has been criticised by Sinn Féin leader Gerry Adams over his position on the banks refusal to cut variable mortgage rates for struggling homeowners.
Mr Adams said that Mr Kenny's response was "not good enough" and that the government needs to "move beyond the rhetoric and force the banks to reduce the interest rates".
"Empty threats to bring pressure on the banks will not work. Having polite conversations with the Bank CEOs will not work," Mr Adams said.
"The state owns most of these banks and it needs to take firm and decisive action to reduce the variable mortgage rates. The government should introduce new insolvency laws that support struggling homeowners; revisit the Land and Conveyancing Act to empower the courts and to give greater legal protection to the Family Home.
"In short, the government needs to stand up to the banks."
(MH/CD)
Mr Adams said that Mr Kenny's response was "not good enough" and that the government needs to "move beyond the rhetoric and force the banks to reduce the interest rates".
"Empty threats to bring pressure on the banks will not work. Having polite conversations with the Bank CEOs will not work," Mr Adams said.
"The state owns most of these banks and it needs to take firm and decisive action to reduce the variable mortgage rates. The government should introduce new insolvency laws that support struggling homeowners; revisit the Land and Conveyancing Act to empower the courts and to give greater legal protection to the Family Home.
"In short, the government needs to stand up to the banks."
(MH/CD)
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The two main Opposition parties have cricised Ireland's banks over their introduction of an increase in their variable mortage rate. This morning, Fine Gael Housing Spokesperson Terence Flanagan Banks accused Bank of Ireland and ICS Building Society of continuing to "heap pain" on the taxpayers who saved them.
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