BUSINESS OPINION: Unlike our island neighbours we seem to have lost our sense of outrage, writes JOHN McMANUS

IT’S A simple question: if the people of Iceland can apparently refuse to be made pick up the tab for the incompetence and greed of their banks and people who did business with them, why do we have to?

Cowen rules out move to help house market along lines of car industry aid

By JODY CORCORAN

Sunday January 03 2010

THE Government has no plans to help people stuck in the trap of negative equity, Taoiseach Brian Cowen has indicated in an interview with the Sunday Independent.

CARL O'BRIEN

THE NUMBER of households receiving emergency welfare support to help them meet mortgage repayments has increased by more than 250 per cent over the past two years.

New figures compiled by the Department of Social and Family Affairs show that almost 14,740 people are getting the mortgage interest relief supplement. This compares with 8,000 recipients at the end of 2008, and 4,000 at the end of 2007.

COLM KEENA Public Affairs Correspondent

IRISH PEOPLE are significantly reducing their personal debt by paying down items such as credit card bills, mortgages and other loans, according to the latest figures from the Central Bank.

For the first time in almost 20 years the annual growth rate in the value of outstanding mortgages has fallen. This is partly due to the introduction of stricter lending criteria being applied by banks. It means that people who wish to buy a home are finding it more difficult to get mortgage approval.

Wednesday, 30 December 2009 11:15

New figures show that the amount of money lent in the economy fell again in November, with mortgage lending falling for the eighth month in a row.

The Central Bank said the level of outstanding mortgage lending dropped by €134m from October. This means that once again the amount being re-paid on existing mortgages was more than the amount given out in new mortgages.

MORGAN KELLY

OPINION : By 2015, Iceland will almost certainly be a lot better off than Ireland because it dealt decisively with its banks

WHILE THINGS are hard to predict, the future, especially the situation of the Irish economy, is so stark that even an economist can make some predictions that stand a chance of being right.

By Charlie Weston Personal Finance Editor

SPECIALIST mortgage lender Start said yesterday it was open to signing up to a new code which gives breathing space to customers who default on debts.

Twelve of the country's leading banks promised earlier this week to avoid taking legal action against customers who default on their debts.

This promise applies provided customers make genuine attempts at some form of repayment.

The deal was brokered between State-supported advisory service MABS (Money Advice and Budgeting Service) and the Irish Banking Federation.