Personal debt in Ireland fell by €563m in the second quarter of this year, according to the latest statistics from the Central Bank.
The bank says mortgage debt was down €194m. Overall, the outstanding debt owed by private individuals and businesses was down 1.2% (or €4.7bn) in the second quarter of the year.
The Central Bank, however, says this was mainly due to write-downs of bad loans. It also says evidence from credit providers suggests that demand for loans is down and lenders are also tightening their standards for issuing loans.
independent.ie
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