Monday 23 October 2017

Life and debt

•In response to the hue and cry over mortgage debt forgiveness: the estimated cost at present to the state of the banks' mismanagement of the economy is currently at €85bn, €20bn of that from a raid on the National Pensions Reserve Fund. The bankers argued that they needed this liquidity to keep money flowing in the system.

The Central Bank estimated a loss of €280bn in Irish property value since 2008, an average drop of 50pc on an Irish home's value!

There are 770,000 residential mortgages collectively worth €115bn.

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