IE. People who default or who give back the keys to the banks will be chased in their home country for assets to clear any outstanding loans after the property is sold.
That has always been the case. Very stupid to hand back the keys. You will be hammered for the debt, the legal costs, interest and penalties. If anyone is in this situation they should go for personal bankruptcy, maximise pension payments (which can’t be claimed) and transfer assets into the spouse’s name.
A debt can be pursued ANYWHERE in the world, not just the EEC.
I cannot beleive there are d*ckheads who think they can walk away from their foolishness.