Credit conditions for Irish SMEs 'worst in euro area'

The Governor of the Central Bank has sadi that the lack of bank credit in Ireland is likely to become a serious drag on our recovery.

The Governor of the Central Bank has today said that the lack of bank credit in Ireland is likely to become a serious drag on our recovery.

Patrick Honohan was speaking at a Central Bank conference on lending in the SME sector, which has heard that the lending market for businesses is highly concentrated, and is likely to become even more so, making it even more difficult for businesses to get credit in the future.