Advertisement

POLL: Should the banks pay in the case of Priory Hall?

<a href="http://polldaddy.com/poll/7405616/">Should the banks pay in the case of Priory ...
Newstalk
Newstalk

10.36 18 Sep 2013


Share this article


POLL: Should the banks pay in...

POLL: Should the banks pay in the case of Priory Hall?

Newstalk
Newstalk

10.36 18 Sep 2013


Share this article


(click here if you can't see the poll above)

Advertisement

The plight of the former residents of the Priory Hall apartments in Donaghmede has been a major controversy fornearly two years. Now, there might be a solution in sight.

Newstalk’s political editor Shane Coleman joined Pat today to reveal how the Government plans to confront the controversy, with a deadline for an actionable plan only 21 days away. Shane told Pat that he was informed by high-ranking members of the Government that the State are determined to make the banks "pick up the tab". You can listen to the full report below:

Already €3 million has been paid to help house and relocate the displaced residents - the taxpayer has already footed significant costs, and further state funding may be necessary going forward. However, one government official told Shane “one way or the other we’ll get the banks - whether they’ll do it screaming or they do it willingly”. "Various instruments" are in place to help persuade the banks to go along with the proposals.

As for Priory Hall itself, the existing building will likely be levelled, and a mixed housing complex built on the land, although not immediately. The slate is expected to be wiped clean for the Priory Hall residents themselves. However, as Shane points out, the residents have already suffered "a financial penalty and the trauma" of paying a mortgage for an apartment they could not live in.

The officials that spoke to Shane, meanwhile, are adamant that they will not be setting a precedent here. The proposed Priory Hall plan will be a once-off since the existing complex is a fire hazard, and the residents cannot move back in. Similar approaches will not be directly applicable to other housing developments in trouble.

Should the banks foot the bill for Priory Hall as is being suggested? Do you think, in this case, it is reasonable for the Government to pay some of the expenses? Vote in our poll and leave your comments below.


Share this article


Read more about

News

Most Popular