Kelly ‘should talk to bank’

Finance Minister Michael Noonan has called on UCD economics professor, Morgan Kelly, to contact the Central Bank over his claims that SME debt could sink the economy.

Over the weekend Mr Kelly warned that if the ECB insists on the banks cleaning up the outstanding loans of SMEs a lot of them will disappear bringing their jobs with them.

Mr Noonan said he welcomed Professor Kelly’s intervention. He said the UCD economics professor has been right in the past and had to be taken seriously. He urged Mr Kelly to contact the Central Bank.