Ireland is creating what is alternately described as a creative financial undertaking or a gamble: a national bank that will spend €54 billion to pay banks for mortgages to free up lending. The country’s property prices have fallen about 50 percent in the past 20 months and defaults on home loans are rising.
Links to other sites: Bloomberg, Irish Times, Nama
Posted by Ellen Wallace on 12 November 2009 at 12:41 |
permalink
This work by genevalunch.com is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.
News story, GenevaLunch, 12 November 2009.
Filed under: World news
Tags: defaults, home loans, Ireland, mortgages
You can leave a response, or trackback from your own site.
We are happy to have your comments,
which are approved before they appear: please remember to be courteous and brief.
We accept only comments directly related to an article. We do not accept comment
spam - messages sent to more than one site. We do not publish comments if the
e-mail address is not legitimate. Thank you!