Central Bank warns bad loans ‘tip of the iceberg’

The elevated level of loans mired in arrears is the visible element of the financial crash but “the even higher level of restructured commercial and mortgage debt is the rest of the iceberg sitting below the surface,” according to Ed Sibley.
“Having the crisis so close in the rear view mirror, and in some aspects still with us, means that we have daily reminders of the human and economic cost of it. We cannot have a repeat,” he warned.