‘Free homeowners from debt prison’
CEO of Pepper Group, Patrick Tuttle, was speaking at the Society of Chartered Surveyors Ireland (SCSI) annual conference when he said that Irish banks need to take some losses to move the economy on — but this also needs to be delicately balanced with their ongoing capital requirements.
“A balance needs to be struck between debt forgiveness, bank capital requirements, moral hazard, and the genuine need to release borrowers from the ‘debt prison’ that their family home has become,” he said.
