Irish Minister Says Banks Must Engage With Distressed Borrowers

Aug. 28 (Bloomberg) -- Irish Social Protection Minister Joan Burton said banks have a responsibility to engage with “distressed” home-loan borrowers “on a case by case basis.”

The government will pay about 70 million euros ($101 million) in mortgage interest assistance to about 18,000 families this year, Burton said in an interview today with Dublin-based broadcaster RTE Radio.

“I don’t think the banks and mortgage institutions are actually engaging sufficiently with people,” she said.

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

To contact the editors responsible for this story: Edward Evans at eevans3@bloomberg.net