Lenihan puts pressure on banks to lend

Minister for Finance Brian Lenihan delivered on his promise in the budget last week to do something which would ensure banks got credit flowing to small businesses again.

12th December, 2009

Minister for Finance Brian Lenihan delivered on his promise in the budget last week to do something which would ensure banks got credit flowing to small businesses again.

It was never possible for Lenihan legally to force banks to lend, because such a system would be counterproductive and unworkable.

The establishment of an independent review and appeals system – where small firms refused a loan by a bank could appeal the decision – is probably...

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