Irish personal debts growing at fastest rate in euro-zone

Personal debts in Ireland are growing faster than anywhere else in the euro-zone, according to figures published today by the Central Bank.

The bank said "personal lending" in Ireland had increased by almost 27% in the past year, compared to an average of less than 10% in the 12 nations that use the euro currency.

However, it also said it was not concerned about this because most of the extra debt was related to mortgages, which leave borrowers with a physical asset in the form of a house.