Taking a leaf out of the German banking book
The latest banking ‘Third Force’ proposal may help close the credit supply gap, especially for SMEs in Ireland
A so-called Third Force in Irish banking has been mooted in one guise or another for the last 30 years. The necessary shrinking of the banking sector following the crash has inevitably led to less competition on the high street. The issue is not only one of competition however but, more centrally, whether the private banking system has adequately supported the SME sector or whether it has been sufficiently involved in the provision of financing to the indigenous exporting sectors of the economy. Is there a gap in the market?
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