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ECB must write down this €75bn odious bank debt

The Keane distressed mortgages report was a missed opportunity to face up to reality. Households are drowning in debt and this is crushing our economy. This harsh reality will not disappear by ignoring it or by putting it on the long finger. It can only be resolved by writing down mortgage debt across the board.

We need to have an honest discussion about the levels of debt in Ireland. The central question that needs to be answered is this: How much debt is too much for the country to handle?

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