RE-POSSESSION OF HOMES BY BANKS RAISED IN EUROPEAN PARLIAMENT

13 June 2015 No Comments by The Northern Standard

By PATSY McARDLE

THE nightmare of homes being re-possessed by the banks in cases where mortgages cannot be met by families, including families in the border region, was raised by the local Sinn Fein MEP Matt Carthy, during a session in the European Parliament in Strasbourg this week.
Mr. Carthy said he wanted to focus on the “frighteningly high number of home re-possessions now taking place in Ireland”.
He highlighted the fact that four homes a day are now being repossessed by the banks. He said: “There has been a striking increase in the number of re-possession applications for homes both in Ireland and across Europe. In Ireland, almost four family homes a day are now being lost to the banks”.
“This isn’t happening by accident—it is a result of Irish government policy that is being pursued with the approval and instigation of the European institutions.
“It is a policy that resulted in 42 per cent of the cost of Europe’s banking crisis being burdened on the Irish people. And, now Irish families are paying the price with their homes. It is a policy that saw Irish and European banks bailed-out and preferential interest rates offered to those of extreme wealth while those who played no hand, act nor part in the creation of the crisis are forced to become homeless”.
“The Irish people had a debt of €64 billion foisted on their backs and are now witnessing families, friends and neighbours paying again with their homes”.
He concluded: “This is not a recovery, not by any objective standards – there should be, there must be – a change in direction at Irish government and EU level to place the burden on debt on those who championed the causes of crisis”.

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