No troika deal on tracker mortgages

The last troika review of the economy failed to reach agreement on what to do with the billions worth of tracker mortgages that are one of the biggest barriers to the Irish banking sector returning to profitability.

Last January a senior troika source told the Irish Examiner that finding a solution for the tracker mortgages was one of the key priorities of the bailout programme because Ireland’s ability to make a durable exit hinged on having a functioning banking system.

It is believed that tracker mortgages formed a big part of the negotiations over the past few days and the broad outline ofa potential solution has been identified.