Escalation of home repossessions shows utter failure of government insolvency and banking policies
Banks need to be taken into public ownership and housing established as a basic right
In a statement, People Before Profit have expressed their disgust at the repossession proceedings commenced by Banks against over 7,000 family homes, as reported in today’s Irish Times, and the likely escalation of repossessions into the tens of thousands over the coming year.
People Before Profit said the escalation in the number of repossessions demonstrated the utter failure of the government’s insolvency and banking policies, and showed the need to take the bailed out banks into full public ownership and entirely change their mandate.
People Before Profit TD Richard Boyd Barrett said “the looming avalanche of re-possessions show the need for the banks to be put under public ownership and put a stop to ‘for profit’ banking. Its simply beggars belief, that banks which are only still standing because of a massive bail-out by the citizens of this country are being allowed to turf many of those same citizens out of their homes.”
Richard Boyd Barrett TD, who is a member of the Daíl Finance Committee, said “The cost of these repossessions will not just be to the evicted families but will cost the state the hundreds of millions because the state is still obliged to house these families, adding further to the already vast sums forked out to private landlords in rent allowance”.
The Dún Laoghaire TD said ” The government must acknowledge the failure of their policies in the whole area of mortgage distress, banking and housing and move urgently to prevent an already disastrous housing crisis reaching epidemic levels. The banks must be given a new mandate to keep people in their homes.
He continued: “It’s really quite incredible, its win,win,win for the banks and the landlords and lose, lose, lose for the struggling citizens of this country. This coward government needs to stand up to the banks and the people who caused the current crisis instead of allowing them to do it all over again.”