NoRegretsCoyote
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The European Banking Authority published a report today on national insolvency frameworks across the EU.
It shows Ireland has extremely low recovery rates for all sorts distressed debt: commercial, residential and SME.
See below gross recovery rate on non-performing mortgages. It's basically how much is retrieved by the bank through the formal debt recovery process. For Ireland it is 12%, about a quarter of the EU average.
![5133 5133](https://www.askaboutmoney.com/data/attachments/5/5011-4a1623e9f853b0678b812c4771e91bc7.jpg)
Anyone who thinks this is unrelated to Ireland's very high interest rates is fooling themselves.
It shows Ireland has extremely low recovery rates for all sorts distressed debt: commercial, residential and SME.
See below gross recovery rate on non-performing mortgages. It's basically how much is retrieved by the bank through the formal debt recovery process. For Ireland it is 12%, about a quarter of the EU average.
![5133 5133](https://www.askaboutmoney.com/data/attachments/5/5011-4a1623e9f853b0678b812c4771e91bc7.jpg)
Anyone who thinks this is unrelated to Ireland's very high interest rates is fooling themselves.