Urgent Need for the Establishment of the Strategic Banking Corporation of Ireland

Chambers Ireland has today (22/05/14) welcomed the announcement that a Strategic Banking Corporation of Ireland will be established but called on Minister Noonan to make sure it is in place and operational as soon as possible.

Speaking this morning, Chambers Ireland Chief Executive Ian Talbot said “This is very welcome news and is a further vote of confidence in the Irish economy although it is vital that the Government does not lose sight of the crucial issue of short term funding for SMEs, which this initiative does not address.”

“Furthermore, the vague timeline, whereby Minister Noonan hopes that the Bank will be operational by the end of the year, is disappointing. There is an urgent need for this to be put in place and we are calling for a deadline of September 2014 to be set,” he concluded.