#TheReset -We need to talk about debt…
Richard Ramsey, Chief Economist, NI, Ulster Bank During the aftermath of the Global Financial Crisis, one of the legacies was over-indebtedness that created zombie companies which weighed on growth as the economy sought to recover. These businesses were mostly larger and within certain sectors. The excessive debt was largely linked directly or indirectly to property. This time is different. It’s different because the banks are well-capitalised and stable. There is no credit crunch – where the cost of borrowing rises …