COMMENT

ALMOST two years ago we published an opinion piece on the plight of Priory Hall residents.

The article was headlined

‘Priory Hall is a clear case for debt forgiveness’. It concluded with the lines:

‘How the Government and the lending institutions end up dealing with the residents of Priory Hall will say everything about how we want to be viewed as a society. It is a question of social justice, one that asks: what type of country do we want to raise our children in?’

Priory Hall has recently been back in the news again for all the wrong reasons, with one former resident reported to have taken his own life after receiving letters from his bank.

The Minister for the Environment, Phil Hogan, suggested on RTE Radio 1 that the firetrap apartments might have to be demolished. Taoiseach Enda Kenny then waded in with a non-time specific commitment to deal with the Priory Hall issue.

But how much time exactly does the Government need? These people have been out of their homes for almost two years and have been unable to get on with their lives or plan for their futures.

Last week the Oireachtas Joint Committee on Finance, Public Expenditure and Reform questioned senior bankers about Priory Hall. There was a clear indication that the financial institutions are now actively looking at all options to resolve the issue for affected customers.

While it’s easy to be cynical given the length of time the Priory Hall residents have been out of their homes, there is now a sense that there is finally some momentum building behind the scenes to bring an end to their suffering.

The treatment of individuals by the banks was also in focus last week when former Government minister and Newstalk presenter, Ivan Yates, gave a riveting interview to Pat Kenny. He recounted his lonely period of exile in Wales after declaring bankruptcy in the UK.

His account of the collapse of Celtic Bookmakers and his battle with his bank is one that will resonate with businesspeople throughout the country who saw their once-thriving companies hit the rocks as the recession took hold.

As he returns to the airwaves and attempts to rebuild his life, Ivan Yates readily accepts much of the responsibility for the failure of his business. In telling his story he was not trying to elicit our sympathy but on a human level he was most deserving of it.