Chamber calls for development bank

NAMA alone is not the answer to solving credit problems faced by companies, according to the Cork Chamber president, who also believes the public sector needs to be reformed.

Ger O’Mahoney believes a development bank in the style of ICC, which was originally set up to foster business activity, would “go a long way” towards encouraging people to engage in enterprise again.

Speaking at the Cork Chamber annual dinner last night, Mr O’Mahoney said a structural reform of the public sector is necessary.