Irish household debt falls but still among highest in Europe

Irish still the fourth most indebted in the EU despite posting largest reduction in union

Irish household debt as a proportion of disposable income fell 10.2 per cent in the 12 months to the first quarter of 2017. Photograph: Bryan O’Brien

Irish household debt as a proportion of disposable income fell 10.2 per cent in the 12 months to the first quarter of 2017. Photograph: Bryan O’Brien

Irish households are reducing debt at a rapid rate, but still remain one of the most indebted in Europe.

New figures from the Central Bank show debt as a proportion of disposable income fell 10.2 per cent in the 12 months to the first quarter of 2017, the largest decline of any EU country.

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