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Central Bank Governor says some in arrears because of moral outrage

TodayFM
TodayFM

2:52 PM - 10 Oct 2013



The central bank governor says some mortgage customers arenÂ’t repaying their loans because of a sense of moral outrage.

Patrick Honohan said in a speech that while there was anger at banks, politicians and the wider economy, those in arrears must face up to dealing with their loans.

He also said that the lack of consequences was leading some to adopt a wait and see approach to their arrears.

The governor said while Irish banks had been slow to repossess homes this must change for the mortgage crisis to end.



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