The Government’s role in the mortgage problem

By David Murphy, Business Editor The nightmare of mortgage arrears is perhaps the most urgent problem facing Ireland. Central Bank Governor Patrick Honohan has accused banks of making slow progress on the issue and has, in particular, told the financial institutions to begin repossessing buy-to-let properties from delinquent borrowers. Ministers too, are happy to wag their fingers at the bankers. However Jim Brown, the Chief Executive of Ulster Bank, has pointed out that both the Central Bank and the Government …