One Comment

  1. Aonghus

    Hi Karl … Would like your thoughts on mortgage restructuring: If I’m not mistaken, over 1/3 of Irish mortgages are from foreign-owned institutions. 1/3 of the cost of a massive restructuring would fall on foreign institutions, while 100% of the benefit (more spending in the economy, give people a path out of debt) will benefit Ireland. We missed the chance to impose losses on foreign bank bondholders – this is our last chance as an economy to impose losses on foreign institutions. Could also think about classing mortgage write-offs as personal income, on which tax should be paid – this tax could to be collected over 10-20 years by the revenue commissioners where possible (offsetting some of the cost of the write-off). Thanks, always appreciate your contributions to the debate on economy and policy.

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