Constantin takes David McWilliams to task for suggesting a 2 year moratorium on mortgages. Read both pieces, but here's Constantin's conclusion:
"A 2 year holiday from mortgages repayment will simply not solve this problem. Only significant debt write-off of household debts or full restructuring of our sovereign debt and deficit (to eliminate the need for future tax increases and reverse recent tax increases) or a combination of both will be able to correct for this severe debt overhang."