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Defaults May Return to Haunt Beleaguered Irish Mortgage Lenders

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"Ireland endured its worst economic crisis in 88 years as a modern state and the government now predicts an end to the recession this year. Yet prospects of rising exports and a narrowing budget deficit obscure concern over a new round of losses on personal loans and mortgages that some economists say threatens the stability of the country’s banks," Bloomberg reported. "Standard & Poor’s Ratings Services said on Jan. 26 Irish banks were riskier than it previously thought and predicted “high credit losses.”"
SOURCE:   Bloomberg

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