An end in sight to debt overhang?

There are signs that the lending institutions are finally getting their act together, writes Glenn Bradley.

4th December, 2011
An end in sight to debt overhang?
Minister for Justice Alan Shatter: a revised bankruptcy code could nudge banks to deal with the bad debt problem. Photo: Tony O'Shea

Over-indebted Irish businesses and households have spent the last three years in a stalemate with their banks.

Asset values and incomes have fallen off a cliff, but to date, banks have been unable or unwilling to deal with the new reality that faces their borrowers.

Businesses and personal borrowers have endured a continued exercise in 'kicking the can down the road', as banks have gone through a process of figuring out what to do with...

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