Deputy McCarthy said that the ECB had reduced rates to help ordinary people and not to increase profits for banks.
THE news that the AIB and the Bank of Ireland will not pass on an interest rate cut to citizens is galling, unacceptable and a precedent that cannot be allowed to continue.
The Government and its members have made numerous calls for this situation to be reversed, yet the AIB have seen fit to ignore a request from the Taoiseach himself to pass on the cuts to the mortgage holders.
The recent rescue of these financial establishments by the Irish citizens was an unprecedented situation, one that the people of this country quite rightly found hard to except.
Now, after these banks stretched the Irish taxpayer to breaking point, they have the temerity to refuse to help ease the difficulty of thousands of Irish customers.
This is, without doubt, unacceptable.