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Seanad
‹ Order of Business

Mortgage crisis and Government confidence

Summary

Jennifer Murnane O'Connor defended the Government’s handling of the recent crisis but focused on the scale of repossessions and the tracker mortgage scandal, saying banks and regulators had failed families. The debate was interrupted by exchanges with Sinn Féin and then moved to calls for the Taoiseach to come to the House.

We are glad to be back here today. Sinn Féin will always look at things negatively. Nobody won the last general election. Deputy Mícheál Martin and the Taoiseach met and found a solution to the latest crisis. What had to happen, had to happen, there had to be accountability, but at least we are making sure that the people are looked after. Sinn Féin is once again saying things that are not true. We are glad to be here today because-----

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What about the health crisis, the homeless crisis-----

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Fianna Fáil should be putting the Government out of power.

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I read in today's newspapers that yesterday a Galway court heard 82 repossessions. For that to happen three weeks before Christmas is a disaster.

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David P.B. Norris Senator David Norris Independent

Hear, hear. It is a disgrace.

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The tracker mortgage scandal is a blight on this country. Like the Famine, it has caused people to be turned out of their homes and families separated. We should be under no illusions about the effect it has had on thousands of lives, and it will be felt for many years in the future.

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How is Fianna Fáil looking after them? It is propping up the Government.

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We are not doing enough. The Central Bank calls for individual executives and board members of the Irish banks to be held accountable for overcharging of at least 20,000 mortgage customers. These calls are not enough. Threats of fines from the Government do not go far enough. For over 20 years these banks have been able to hoodwink us and it is not acceptable. What the banks are doing is wrong. We all agree on that, across the parties. Bankers deal in money and they hurt people most in their pockets. The bankers should be instructed to wipe away debt on their customers' homes as they did on the millions owed by billionaires. We have no way to bring back lost homes, put marriages back together or bring back deceased loved ones but we can change how the banks behave in the future by hitting them where it hurts and by giving stability to families in the future. I call on the Minister for Finance to come before the House to address this. I have concerns. We need to play hardball with these bankers and give families stability.

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Paul Coghlan An Leas-Chathaoirleach Fine Gael

The Senator's two minutes are up.

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As a Government we can try and solve these issues. We can all work together.

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Who is in Government? They are all in this together, as a Government.

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We are here in a confidence and supply agreement. At least we are trying to work and look after the people of the country.

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Paul Coghlan An Leas-Chathaoirleach Fine Gael

The Senator has gone well over time.

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Sinn Féin has to have a rant every day.

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Paul Coghlan An Leas-Chathaoirleach Fine Gael

Order. The Senator has had her say. I call Senator Niall Ó Donnghaile. I call order for the speaker.

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I hope that my clock has not started yet.

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Paul Coghlan An Leas-Chathaoirleach Fine Gael

The Senator need not worry.

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I find it very funny, almost pantomime-esque when Senator Murnane O'Connor comes in here and accuses others of being negative.

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Sinn Féin comes in here every day, and it will not go into Government.

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Paul Coghlan An Leas-Chathaoirleach Fine Gael

Senator Murnane O'Connor is out of order. The only person who may respond is the Leader.

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It is fine. The Leader will defer to his partner in Government to respond for him.

There is some tick-tack back and forward but it is not too much for the Members of this House to ask the Taoiseach to come before it, and the request should not be treated with such hostility, given the political crisis.

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