Banks 'must face inevitability of debt-restructuring'

A group which helps struggling mortgage-holders says lending institutions must face up to the fact that some level of debt-restructuring is inevitable.

Latest figures from the Central Bank show that in November, almost 100,000 mortgages in Ireland were either in arrears or had been restructed.

New Beginnings founder David Hall, said: "Most banking organisations probably now realise that the debt as it currently stands is probably not possible to pay back.

"Therefore, there's an inevitability about some level of re-structuring. The willingness to do that is the concern."

Related Articles

More in this Section

No winner of Lotto jackpot

Kevin Mallon release on bail delayed due to 'lack of ankle tags'

Three men to appear in Cork court following drug seizures made on Thursday

Firearms seized in Dublin search operation


Today's Stories

Dozens in limbo as GE Healthcare job offers pulled at last minute

Irish surfing champion Easkey Britton hails burkini

Irish Refugee Council: ‘Reform aid scheme for asylum seeker students’

Thomas Barr graduates proving he truly is the master of sports performance

Lifestyle

Irish wool textile weaving is alive and thriving

Make your garden a musical haven, with help from green-fingered DJ Jo Whiley

Robin Gill’s Garden Courgette with Smoked Buffalo Milk Curd and Roof-Top Honey

We ask some siblings what it’s really like to work with your sister

More From The Irish Examiner