Ireland could be biggest borrower

WE are in danger of becoming the most debt-ridden society in Europe with borrowing rising by over €1.3 billion every month, the Central Bank warned yesterday.

More than €58 billion is currently outstanding in mortgage debt. A further €14 billion is owed in personal loans, car loans, overdrafts and credit cards.

The total figure of €72 billion means every man and woman in the country owes an average of €25,700 to the banks.