Irish banks need to consider restructuring pandemic-hit loans - c.bank

DUBLIN, Sept 14 (Reuters) - Irish banks will need to start
thinking about restructuring loans if borrowers need assistance
beyond six-month repayment payment breaks due to expire in the
coming weeks, Irish Central Bank Governor Gabriel Makhlouf said
on Monday.

"There are bound to be more people in a distressed debt
situation, we need to avoid that almost becoming a systemic
problem. That's why we would be encouraging borrowers to engage
with their lenders if they think they are going to have a
long-term problem," Makhlouf told an online conference.

Makhlouf added that it would be wise for firms to plan on
the basis that neighbouring Britain will not strike a trade deal
with the European Union as the strained talks of the last week
has highlighted that "a lot of us don't know what's going on"
and what may or may not ultimately be agreed.

(Reporting by Padraic Halpin; editing by David Evans)