Regulator warns of future debt crisis

FINANCIAL regulator Liam O’Reilly expressed his fear yesterday that the country could be heading for a huge debt repayment crisis.

Mr O’Reilly warned that many individuals may be getting in over their heads and borrowing too much.

“Along with the Central Bank, we are concerned about the rapid rise in the levels of indebtedness in the economy and are well aware that if conditions change adversely, many people could be severely affected“.