Interest rate incredulity

THE costs of EU membership are being felt in no uncertain terms, with the sixth rise this year in interest rates from the ECB.

This will mean that many home owners may have their houses repossessed as a result of these persistent increases.

As a result of the hike, the beneficial effects in mortgage relief given in the Budget have been annulled.

It’s hard to believe Brian Cowen knew nothing of the increase before he announced the Budget. Are we to believe the European Central Bank decision came out of the blue and member states knew nothing until it was too late?

Maurice Fitzgerald

Shanbally

Ringaskiddy

Co Cork