Wednesday 26 July 2017

Our €87.5bn in the bank does not add up to a spending spree

Michael Noonan's call on Irish savers to go out and shop is based on flawed calculations, says Jerome Reilly

At the end of March, Irish householders had €87.5bn in savings in resident credit institutions.

That's the money Michael Noonan wants us to liberate and spend, spend, spend.

The perception is that since the economy tanked we have been squirelling away money, that tens of thousands of families have tens of thousands of euros resting in their accounts.

Please sign in or register with for free access to Opinions.

Sign In

Don't Miss