business: Last News

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

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.

Mr Varadkar said he accepted that the cost had to be borne by somebody, however, he said it should not be borne

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business: Main News

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.
[ Sign up for our Health IQ newsletter for the latest coronavirus updates ]The plaintiffs do not include the employees themselves, who are covered by labour and worker compensation laws.The statement of claim alleges that despite warnings and guidelines issued by the Alberta government, Cargill Ltd. failed to take “reasonable precautions” at the beginning of the outbreak to limit its spread.“This is a sophisticated facility and a company well-versed in proper safety procedures.

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