Saturday 3 December 2016

€100bn in bank - but we are most at risk from new crisis

Published 27/10/2016 | 02:30

There is the one figure which many people refuse to believe: that Irish household income is higher than the Eurozone average, despite the high unemployment rate
There is the one figure which many people refuse to believe: that Irish household income is higher than the Eurozone average, despite the high unemployment rate

A figure which always surprises is the one which says Irish households have €100bn (that's not a misprint) on deposit in the banks. Aren't we all supposed to be bust?

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Not exactly. Taken in the round, Irish households are in surplus, and that's before taking the value of houses into account.

Unfortunately, in real life things do not happen in the round and many households are in various kinds of deficit, both of income and wealth.

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