Sir, – Now that the Government has upgraded the inquiry into the Irish Bank Resolution Corporation to a commission of investigation, it may be some time before we know whether certain customers of the bank did receive preferential rates of interest compared to other customers.
However, that has not stopped certain “expert” commentators from speculating why certain borrowers would indeed qualify for such terms due to the straitened times the economy was in at the time. These same experts have said that such was the depth of the economic crisis that being able to charge any interest when some companies were unable to repay any debt was an achievement in itself, thus rendering redundant any claim that interest rates charged at less than the standard rate were preferential and so undermining the whole inquiry.
It’s a pity this latitude was never extended to mortgage holders who, having borrowed money at the peak of the boom, were expected to repay every cent of interest or face foreclosure. Even at this remove, when the threat to the solvency of the banks has passed, mortgage holders are still being subjected to higher rates of interest if they are unfortunate enough to have a variable rate mortgage. – Yours, etc,
BRENDAN McMAHON,
Naas, Co Kildare.
Sir, – Before the last election Enda Kenny promised a new era of responsibility and transparency which he has manifestly failed to deliver.
Quite simply, if the Government authorities fulfilled their commitments openly and expeditiously there would be little need for inquiries and reviews. Yes, I realise the legal profession might feel the draught, but so be it.
The Taoiseach is facing a general election in less than a year, and for all the good work his team has done on the economy, it would be gross mismanagement to lose the election because of a failure to communicate quickly, accurately, and transparently, without fear or favour. – Yours, etc,
MIKE CORMACK,
Blackrock,
Co Dublin.
Sir, – Just three weeks after he became Taoiseach, Enda Kenny made the promise that the findings of the Moriarty tribunal “will not be allowed gather dust”.
He also said he would “sever the links between politics and business once and for all and, in so doing, achieve three fundamental goals: stop the further pollution of our society; re-establish a moral code and order regarding public life; and, through that, restore public confidence in politics and government.” In the week that’s in it, shouldn’t he now admit that he didn’t even achieve a basic pass? – Yours, etc,
NIALL GINTY,
Killester,
Dublin 5.