See Welcome to Ireland, where mortgage payments are apparently optional – Quartz
The level of Irish mortgage defaults and arrears as shown in the chart in the link above is vastly higher than even Greece's. One estimate is that about a third of this is strategic defaults by home owners who could afford to pay.
Given the huge backlog of mortgage defaults to be processed,new legislation that corrects a technical flaw in the legal right of banks to reposses houses in mortgage default will set off a massive wave of repossessions. Mortgage loan restructurings will make little difference,going by US experience of extremely high failure rates of restructurings.
Irish folk memories of 19th century mass evictions of impoverished potato farmers from their one or two acre lots still create public sympathy for people facing evictions from their homes. This could make it very difficult for the government owned banks to proceed with repossessions.However, the government has little choice: it has its marching orders from the Troika and the banks need to raise money from selling off repossessed houses if they are to fund new mortgage lending and new loans.