Foreign banks could fill the void
Unfortunately, the country’s 230,000 vacant residential properties are unsuitable for conversion to milking parlours, and the banking disaster which followed the property frenzy may leave many banks unable to take part in the €1 billion of new loan business which Irish dairy farmers will generate, as they bid to increase milk production by as much as 50%, after EU milk quotas are scrapped in 2015.
Farmers aren’t hanging around waiting to see who will lend them the money for expansion.
