The Sunday Post article says:
Does that involve debt forgiveness? By any rational standard, it does not. All it involves is the bank forgoing some income and profit. There is no capital implication for the lender’s balance sheet and no negative consequence for the taxpayer. The bank is repaid in full and the borrower owns his home.
Of course it is debt forgiveness. The Frontline and the article go off on a tangent about some sort of “shelved balance” which is “warehoused” on which no interest accrues. This is just a deflection.
...The bank is likely to be losing out on €80,000 of payments under this plan.