Tánaiste: Govt will deal with banks 'effectively' over mortgage issue

The Tánaiste Eamon Gilmore has vowed the Coalition will force banks into dealing with the tens of thousands of people in mortgage arrears.

Mr Gilmore also said the Government will be the one that stands by people in mortgage distress.

He came under fire in the Dáil from Sinn Féin, who said that two years ago in the election campaign Labour promised "peace of mind" to struggling homeowners.

Mr Gilmore said banks will be made deal with this crisis.

He said: "We are not satisfied with the speed and the urgency with which the banks are dealing with the mortgage issue.

"You may be in no doubt but that we will deal with that issue effectively with the banks and that is the approach we are taking.

"That approach is being effective, that is the approach that is in the interest of the people who are in mortgage distress."

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