Mortgage debt 'hits home' as householders struggle

The Irish property crash has left an estimated 300,000 homeowners in the Republic with mortgages that are bigger than the value of their homes.

Solving that personal debt crisis was identified by President Clinton as key for the Irish Government if it wants to see its domestic economy grow.

The government has just published some early ideas, but debt forgiveness - whereby the negative equity is written off - was not among them.