Personal debt has doubled to ‘danger levels’

A leading economist has expressed concern at the “dangerously high” level of personal debt being carried by the Irish public, with almost a doubling since 2001.

People whose debt far outweighs their income are very vulnerable, Tom Healy, director of the Nevin Economic Research Institute (Neri), has warned.

He believes “economic activity is bound to slow down some time in the not too distant future”.