Thursday, September 05, 2013

Ireland Debt Time Bomb


Ireland's Debt 

The Irish Government is poised to introduce further financial hardship in another coming budget, while at the same time a massive debt time-bomb is ticking. When it goes off it will, no doubt, inflict massive social as well as financial damage.

The time bomb?  Some 20% of mortgages are in serious arrears. Additionally some 20% of personal loans at Credit Unions throughout the country are also in arrears.

I worry for the immediate future.


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