Quinn debt plan should be considered

SERIOUS concerns are emerging about the potential squandering of billions of euro of Irish citizens money and the loss of tens of thousands of jobs, as a result of the sale of Quinn Insurance.

Lack of transparency and openness is inexcusable in regard to the decision to eliminate the Quinn family proposal, which would facilitate the recovery of all outstanding debt to the shareholders of Anglo (us), maintain employment levels at a time in our history when it was never so important, and ensure healthy competition in the insurance market.

Full details of the Quinn proposal are in the public domain and can be analysed and scrutinised, whereas the other proposals are shrouded in secrecy.

Sean Quinn and his family have bent over backwards to come up with a mechanism to replay all debts. Quinn bought shares in an Irish Bank that was regulated by our Financial Regulator, and supervised by our government. He did nothing illegal or improper.

The question must be asked, why should struggling mortgage holders pay their debt, when the State is refusing to work with a man who desperately wants to pay his and has a sound business plan to do so? Let us not forget that Quinn has created 6,000 jobs directly and tens of thousands indirectly, all of which are now being jeopardised.

Patricia Gilheany

Ballinamore

Co Leitrim