Households pay debts with savings

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

Fri, 21 Oct, 2011 - 01:00
Niamh Hennessy

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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