EU urges writeoffs of soured bank loans

The Government’s budget plans have avoided any major censure from the EU over policies ranging from the National Development Plan to the banks dealing with their troubled loan books. However, in its assessment of Ireland’s budget framework, the commission urges the Government to further help distressed households and to encourage “writeoffs of non-recoverable exposures”.

By Eamon Quinn

The Government’s budget plans have avoided any major censure from the EU over policies ranging from the National Development Plan to the banks dealing with their troubled loan books.