Monday 19 March 2018

Big deals are meaningless if people are waiting for credit

THE other day, a woman stopped me on Wicklow Street and asked: "If there is so much money around for the big things, why is there so little money about for the little things?"

As far as she was concerned, if the ECB and the Government could somehow find tens of billions to finance bank bailouts, if they could find a way to roll up huge debts and put these debts on interest only for decades before principal was paid, why couldn't they do the same for her loans of mere thousands?

Nor could she figure out, if so much money had been funnelled into the banks by now, why couldn't her small company borrow a few thousand euro from these same banks?

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