Rejoice Americans, credit card debt isn’t just our domain. The Irish (surely among others) are suffering right along with us. I suppose this isn’t anything to rejoice. But it’s reflective of how spending has taken on an ever increasing role in our lives. The Irish reported today that consumer debt is up nearly 16% when compared to this time last year:
Figures released this morning show that new credit card spending in December was €1.2bn, 15.8% higher than a year earlier, while total credit card indebtedness was up 18.8% compared with December 2005.
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