Billions for a failed project and just a fraction for the real economy

AS part of the recapitalisation arrangement, AIB and Bank of Ireland are required to start providing credit.

Amazingly, considering the need to rebuild the economy, they are required to provide three times more credit for mortgages than for small and medium sized businesses.

The banks subsequently announced they intend to provide e2 billion in mortgages for first-time buyers. I did not see any announcement by the banks that they were going to provide credit for small and medium size business.