Irish politicians, bankers against tighter credit limits
They warn that proposed caps on mortgage loans, meant to prevent another credit bubble, will hurt young buyers
Thu, Nov 20, 2014 - 5:50 AM
The central bank, headed by Mr Honohan (above), has proposed that most new mortgage loans should be capped at 80% of a property's value. Mr Honohan will make a final decision in January.
ST FILE PHOTO
IRISH politicians and bankers agree that easy credit was ultimately to blame for the collapse of the country's economy. Now they agree that the country mustn't go too far in imposing limits to prevent another bubble.
Ireland's central bank, attempting to temper a resurgent...