Bloomberg News

EU Says Irish Banks Haven’t Been Asked To Weigh Mortgage Holiday

October 19, 2011

Oct. 19 (Bloomberg) -- Ireland’s banks have not been asked by the country’s bailout partners “to consider allowing households temporarily to stop paying their mortgages” to pay down personal loans, the European Commission said.

“The Irish authorities have made clear and we agree, those who can service their debts need to continue to do so,” the European Commission representation in Ireland said in an e- mailed statement. The Irish Times reported today that the so- called troika had asked lenders to consider temporary suspension of mortgage payments to allow borrowers pay down other loans.

To contact the reporter on this story: Joe Brennan in Dublin at jbrennan29@bloomberg.net

To contact the editor responsible for this story: Dara Doyle at ddoyle1@bloomberg.net


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