Sir, – Will this Government’s claim to fame be that they found a way to actually get blood out of a stone? – Yours, etc,
Sir, – The banks are putting smaller borrowers under severe pressure to liquidate property assets in order to bring down their level of indebtedness.
In a normal market this would be understandable, but in this country at present there is no properly functioning market in which to sell. In respect of residential property, the main reason why there is no functioning market is that the banks are unwilling to lend. Is this therefore not a display of moral bankruptcy by the banks? Perhaps they don’t understand. If they released a reasonable amount of funds to the market, there is then a reasonable chance of beleaguered borrowers being able to dispose of property, maybe not at price levels at which they bought, but certainly not in a fire-sale scenario that helps neither party. – Yours, etc,
Sir, – I noted the ceremony for new Irish citizens and noted the presence of An Taoiseach, the Minister for Justice and the Army band (Home News, February 3rd).
Will we now see Mr Kenny and Mr Shatter, although hardly the Army band, at the airports to bid farewell to other citizens leaving the country because there are no jobs here for them? – Yours, etc,
Sir, – I used to be part of the squeezed middle but now I’m down with the squashed bottom. – Yours, etc,