The Sinn Fein Spokesperson, Pearse Doherty has today claimed that the Government has no intention of standing up to the banks on high interest rates. He was speaking on the day of the deadline given by Michael Noonan to banks to reduce variable mortgage interest rates.  
 
Doherty claimed that almost four family homes are being repossessed or surrendered each day. He referenced figures from the Central Bank which show that in the first quarter of 2015, 351 homes were repossessed or surrendered.
 
Deputy Doherty said, "Like it has on other issues like mortgage arrears and bankers’ pay, this government is content to let the banks decide policy.

The Taoiseach laments that the friendly reminder that the government has given the banks about today’s deadline on mortgage rates has largely been ignored, but we can rest assured that the Minister will follow it up. That is not a credible position. The fact is that it is not willing to stand up to the banks."

Source: www.businessworld.ie