The Minister for Finance must instruct the Central Bank to require that mortgage holders are not stigmatised by past credit history or by being a customer of a non-bank fund, writes ianguider
A few years ago, an edict went out to Irish bank chiefs from their regulator, spurred on by a demand from the European Central Bank . All of them needed to tackle the weight of toxic debt clogging up their balance sheets.
The message to the Irish bankers, whose level of non-performing loans were among the highest in Europe, was clear: get rid of customers in mortgage arrears and do it pretty damn quickly.
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