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Once again, it’s the bankers that are winning at the expense of ordinary people, says MEP Nessa Childers

Press Release

Thursday 10 Apr 2014

As thousands more families face losing their homes, Nessa Childers MEP has reacted furiously, saying that the Government is once again making ordinary people suffer disproportionately.
‘The Troika is encouraging still – as it has been encouraging for some time – a hard-line stance on repossessions. It supports the banks entirely in their quest to grab back property from those home-owners who genuinely have very few options,’ Ms Childers said this morning.
‘It is clear that the Troika wants first and foremost to get our banks, rather than ordinary people, back on track.
‘We have a housing shortage in urban areas; a spiralling rental crisis; we have families and young children with nowhere to go – can it be that having a proper roof over your head is becoming a luxury for citizens of this country?’
Permanent TSB has announced that it will now begin repossessing homes for the first time from those in arrears of less than 90 days. It is thought that AIB, Bank Of Ireland and Ulster Bank all plan to follow suit shortly.
Campaign group New Beginnings has previously warned that thousands of homes will be repossessed this year alone.
Ms Childers added: ‘There are almost 60,000 accounts that haven’t been able to make a mortgage payment in a year or more – will all these people and their families soon find themselves on the streets?
‘And sadly,’ the independent politician also said, ‘stories of debt write-downs are all too few.’
Last year, and as part of Ireland’s exit from the bailout programme, the Troika said it was implementing an improved ‘payment discipline’ strategy.
This week, Minister Michael Noonan said it would be futile to object to Bank Of Ireland boss Richie Boucher’s €840,000 salary, despite the Government owning 14 per cent of the company. Mr Boucher’s appointment pre-dates the current Government, so he does not have to adhere to the State’s salary cap for bankers of €500,000.