The economic crisis in Greece has been well documented in recent months, and its effects have been felt across Europe. High borrowing and a failure to repay debts has led to a situation that will be difficult to recover for the Greek government. When compared to Ireland, and their handling of their own economic troubles, the differences are stark.
The messages from both Greece and Ireland have lessons that applicants can learn from. For this reason, we have created an infographic to show how these two countries had differing approaches to debt and how this might be reflected by people with debt problems:
Article Courtesy of: See the infographic here.
The infographic shows that Ireland reflect a case of a person who is experiencing hard times financially, and made the tough changes needed to stay afloat, asking for help when it was required. Greece on the other hand reflects someone who failed to recognise their problems and take action, and as such would struggle to get the loan that they needed from lenders.
Article Courtesy of: Just Mortgage Brokers