Realism, not false hope, is key to arrears crisis
Recent changes aimed at achieving mortgage restructuring will offer hope for those in arrears, but it is still important to be realistic, writes Vincent P Martin.
The economy will not recover without first dealing with the issue of household debt. This problem needs to be addressed because it is not only a micro-economic problem, but a social and macro-economic challenge in that a huge part of middle Ireland is being adversely affected. Until this section of the population, aged between 30 and 50, is enabled to return to solvency, there can be no hope of economic recovery.
In effect, borrowers are faced with...
Subscribe from just €1 for the first month!
With any subscription you will have access to
Unlimited multi-device access to our iPad, iPhone and Android Apps
Unlimited access to our eReader library
Exclusive daily insight and opinion seven days a week
Create alerts to never miss a subject that matters to you
Get access to exclusive offers for subscribers on gifts and experiences
Get content from Business Post, Business Post Magazines, Connected, Tatler and Food & Wine