Austerity caused mortgage crisis
Madam – So now the Government is discussing moves to force the banks to tackle mortgage arrears. No mention of course that it is the Fine Gael Government, enthusiastically supported by Labour, which continues on with its totally failed austerity programme.
It should be obvious that this is the primary cause of citizens' inability to meet repayments on their homes. The Fine Gael and Labour policies are not working and are indeed having the opposite effect on the economy.
We should take serious note of UCD economist Colm McCarthy and former chief financial officer of Anglo Irish Bank, Maarten van Eden.