MacSharry says no softening stance on mortgage arrears

Permanent TSB director Ray MacSharry says the bank is not in the business of softening its attitude on mortgage arrears.

Mr MacSharry, a former Fianna Fáil finance minister, ruled out any blanket debt forgiveness in tackling the arrears crisis.

The Permanent TSB public interest director told the Oireachtas finance committee his bank would look at debt writedowns on a case-by-case basis but there would be no debt forgiveness.