Comment: Vicious circle of unchecked debt affects us all

A feature of the Irish economy in recent years has been the growth in borrowing by consumers.

2nd December, 2006

A feature of the Irish economy in recent years has been the growth in borrowing by consumers. The rising indebtedness of Irish consumers has been the subject of much attention.

Concerns have been expressed about whether current debt levels are sustainable and the implications of this for the economy. The amount of unsecured household debt stands at more than €131 billion, up by over €20 billion on the previous year.

This represents a growth rate...

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