IRELAND’S mortgage debt just cannot be repaid, says a NUI Maynooth academic since 1993, whose umbrella group plans a major campaign on the questuion of mortgage and personal involvency.
A history lecturer specialising in early Irish period, Colman Etchingham, is currently chairman of Independent Resistance, an umbrella group of organisations which have sprung up since the financial crisis..
The €170 billion debt is too much to be repaid and much of it is not Ireland’s, ”What cant’t happen won’t happen,” he said.
The Reisistance group, which includes those opposed to household charges and people battling State/EU over turf cutting rights, point to Iceland where mortgage debt has been written off. It now plans a mortgage strike and calls on anyone interested to see the mortgagestrikeireland website or contact 087-7583908.
The convenor, whose original protest was against household charges and evictions, says the tendency of the group is less protest than finding a solution.
In the longer term, the new mortgage group would like to see a mortgage write off along with the creation of a people’s bank.
The group is working of a six point economic play drawn up by Professor Terence McDonagh, NUI Galway.”There are undoubtedly wider issues than bank failure or mistakes. There are economic system failures.”
- Henry Bauress