Is the Irish mortgage problem intractable?

Ten percent of Ireland's 760,000 home mortgage are more than 90 days in arrears. Already over ten percent have been restructured. Of the restructured mortgages, 50% are more than 90 days in arrears, so a total of 15% have been restructured or are in arrears. The number of restructured mortgages was up 10% in the first quarter. Getting into arrears even if you can pay is a way of getting a mortgage reduction. What are the implications for the US and the UK?