We tried to put the main themes behind the 60 pages of the report (minus appendices) into a 1,000 word condensed version.
To begin with the report (here) is just that, a report, it isn’t an automatic initiation of policy change although it may affect policy change in the future.
The Expert Group on Rerpossessions was established in September 2013 at the behest of the Troika and was mentioned in the 9th review of the Memorandum of Economic and Financial Policies (MEFP).
They didn’t understand (nor did our own decision makers) the reasons behind the length, lack of predictability of outcome, cost of proceedings and how it stacked up compared to other jurisdictions.
We have an abnormally low rate of repossessions in Ireland, that is both in absolute terms and most tellingly in relative terms to other countries, and the system for this is also lengthy, complicated and expensive.
There is nothing in the report which calls for wholesale repossessions, and in light of the facts (rather than the spin) …