Homeowners to be hit with rate hikes
There are also fears there could be calls for Ireland to leave the euro given expectations it is expected to bounce back slower than other European countries.
Director of financial planning with McAvoy & Associates and former Wall Street derivatives specialist, Laurence Daly, said Irish borrowers need to brace themselves for a “heart-pounding collision” with expectations that the European Central Bank (ECB) will double interest rates to 2% by January 2011 and to 3% by January 2012.
