Kenny promises action on mortgages crisis
Taoiseach Enda Kenny has admitted his frustration at the slow progress being made in some areas of Government.
Mr Kenny used his keynote speech at the Fine Gael Ard Fheis last night to promise to drive action in particular in the area of the mortgage crisis.
He said the Government will redouble efforts in implementing policies to fix the economy.
The Taoiseach said that among those initiatives are efforts to help those struggling with mortgages.
"We will work with the Financial Regulator to encourage banks to offer negative equity mortgages; we will finalise and enact a Personal Insolvency Bill designed to re-balance the rights of the borrower and lender in a fairer way.
"These steps are to protect our families and to keep our children in the most powerful and most precious place that they will ever have in their own lives - in their own homes."
The Taoiseach also took the opportunity during his speech, which was broadcast live on TV, to reinforce the Government’s commitment to Europe in paying its debts.
“Let me be clear. I will not throw away the progress we have made in the last year by reneging on our international commitments,” he went on.
“Ireland will not default. But we are determined to ease this burden on our people.”
Mr Kenny said an example of this was the ongoing negotiations with the Troika - the IMF, European Commission and European Central Bank – to restructure promissory note payments to the former Anglo Irish Bank.
