Independent TD Michael Fitzmaurice has condemned recent comments made by the Taoiseach Leo Varadkar in relation to vulture funds being “more effective” at writing down debts than banks.
He said: “Does the Taoiseach need to be reminded that it was the people of Ireland who bailed out the banks or that it was the people of Ireland who paid increased taxes in order to turn the economy around?
“His recent comments show an evident disconnect between somebody who was lucky enough to enjoy a privileged upbringing and the people who are faced with constant financial struggles on a daily basis in rural parts of Ireland,” Deputy Fitzmaurice added.
“Let us be very clear, negotiation and a longer deal – in an awful lot of cases – is the only solution. But, unfortunately, this opportunity will not be afforded to these people,” he said.
“Following his latest comments, it appears as if the Taoiseach has never sat in front of middle men in an effort to negotiate with vulture funds on the behalf of his constituents”.
Concluding, Deputy Fitzmaurice said: “It would be extremely beneficial for the Taoiseach to spend some time with people who try and negotiate a way forward for a lot of people who have fallen into financial difficulty.
“As I have stated in the past, we are at the tip the iceberg when it comes to a number of issues that we do not want to see escalate into full-blown crises. Moving forward, there is an onus on politicians to support legislation that will properly regulate these vulture funds”.