Thursday 14 December 2017

Rate cut shows up NAMA lie

THE great lie that has been peddled by this Government on NAMA being the best route to take to get banks lending to small firms has been further exposed by this week's savage action by AIB which has reduced the rate of interest payable on business demand deposit accounts to 0.20pc.

That is a staggering reduction of 87.66pc from the previous barely tolerable 1.62pc.

So small firms are supposed to "lend" the banks their deposits for a paltry 0.20pc, or alternatively, if they wish to earn 2.29pc from AIB, they can tie up their deposit money for 30days

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