I'm just curious about some things I read in a banking report. It says more than 20% total bank loans in Ireland are Non-performing loans which are likely to default.
"With the NPL ratio for households at 26% for non-financial corporations - 44% for SMEs - and 44% for commercial real estate."
Then it goes on to say that Credit to non-financial corporations in 2015, was 267% of GDP. The current value of the bad loans is around $50 billion.
Is this a bad situation, or do the numbers make it look worse than it actually is?