Saturday 25 November 2017

SME sector is important

Sir -- Congratulations on publishing the article by an unnamed business person which tells the real story about how the banking sector is systematically bullying and intimidating the owners of SME's up and down the country.

This previously untold story should be compulsive reading for any member of the government who is naive enough to believe that NAMA will make one iota of difference to the availability of credit to SME's, even the former AIB Chief Executive Eugene Sheedy admitted it won't.

If the government has any understanding of the importance of SME's to this economy it needs to spell it out in black and white to the banks that it will withdraw the bank guarantee scheme if bankers do not give verifiable proof that they are making loan and overdraft facilities available to Irish SME's. Provision of these facilities should not require SME's owners to put their homes up as security.

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