Working out of debt

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It only just begun, its not just Ireland but an issue facing most developed countries. Private sector deleverage preceeds government deleverage and it takes about 5 years before positive results begin to become apparent. The catalist for economic recovery is generally a currency devaluation and while the collapse of the Euro is a possibility, significant quantitative easing (printing money)  looks the more probable option. This effectively means your Euro will be worth less. Bust banks in bust economies aren’t helping. Until there is decisive EU leadership,the path to recovery will be slow and painful but  as any seasoned businessman well knows, no pain no gain.

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John O'Connell & Co., Chartered Accountants, Corporate Recovery & Insolvency Practitioners, Independent Financial Centre
33 Bank Place, Mallow, Co. Cork, Ireland :: Phone +353 (0)22-21132