Households pay debts with savings

IRISH households now owe twice their income and are dipping into savings to pay off debts.

Households pay  debts with savings

The total income of households in Ireland in 2010 was €92 billion, but debts came to €185bn, according to figures from the Central Statistic Office (CSO).

Income has dropped from €96bn in 2009 while debt is down from €198bn.

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