The consequences of the ECB’s interest rate increase for mortgage holders was being examined by the Government, Taoiseach Enda Kenny told the Dáil this afternoon.
Mr Kenny said Minister for Finance Michael Noonan was considering the matter and the "fundamental responsibility of seeing that people are protected . . . and having their homes protected".
Mr Kenny agreed the interest rate increase was a matter of serious concern for people with mortgages.
Fianna Fáil leader Micheál Martin said the increase was unwise and would create serious damage to fragile economies across the euro zone.
Mr Martin agreed, he said, that central banks needed to be independent from governments and politicians, but there was a right to comment when wrong decisions were made.
The Taoiseach, he added, should raise the House’s concerns with the ECB about the interest rate rise and further ones that were planned. Considerable hardship would be caused to families across the country, he added.
Sinn Féin leader Gerry Adams said the IMF-EU was a disaster for Ireland. Yet the Government, he added, recommitted itself to the agreement at every turn.