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Varadkar says he does not 'fully trust' banks not to profit over Covid crisis

Ireland business politics
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Tánaiste and Minister for Enterprise, Trade and Employment Leo Varadkar has said he does not fully trust the banks not to try to make a profit during the Covid-19 crisis.

Speaking on RTÉ's Business programme, Mr Varadkar said he had met the banks in May when they said they could not waive interest on mortgages that were paused due to Covid-19 because there was a regulatory barrier.

However, Mr Varadkar said it has since been clarified that was not the case and he had checked it with the Central Bank. He said the other reason banks gave was that if they extend the term of a loan, there are costs associated with that for the banks.

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
Detail statistic
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