Thursday February 20, 2020

Banks don’t want to lend, says cabinet minister

Rural and community development minister Michael Ring blasts Irish financial institutions; plans to develop a community banking sector modelled on German Sparkasse system

Ian Guider

Markets Editor

@ianguider
6th May, 2018
Michael Ring

Rural and community development minister Michael Ring has said banks “are not for the people any more” and no longer want to give out cash or loans.

In response to a Dáil question last week, the Mayo TD said his department and the Department of Finance were preparing to release a report in the next couple of weeks on proposals to develop community banking in Ireland.

“There is a problem and...

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