Forgive your Neighbour?
Many people who bought during the boom times now find themselves trapped in a position of negative equity with little hope of relief. They often feel resentment that a bailout was so quickly made available to the banks, while ordinary borrowers were left to fend for themselves. Furthermore new laws have made it easier for banks to repossess property and to make more demands on the borrower.
Deputy Stephen Donnelly is an independent TD for Wicklow and East Carlow, who since his election in 2011, has been campaigning for debt forgiveness for people in that situation. He explains to Conor Deane that there are strong social as well as Christian values underpinning why we should essentially forgive our neighbours. Though he goes a step further and says forgiveness implies they were the only ones who did anything wrong, whereas he sees it as a negotiation between parties who are all in it together. But first he explains why core values are so important in making any economic decision.