Billy Kelleher (Cork North Central, Fianna Fail)

As I said last week in response to Senator Ross on a related Adjournment matter, banks now have a new relationship with the public. They also have a new relationship with the Houses of the Oireachtas, which passed the guarantee scheme. They should be conscious of the importance of not denying credit to the most productive areas of the economy, which are primarily small and medium businesses. In particular, withdrawing overdrafts and other short-term credit facilities is putting great pressure on small companies. If the banks are trying to rebalance their books for the benefit of the regulator and the stock market, I urge that they do not target those businesses which are vulnerable but also viable. Credit must be allowed to flow to small and medium enterprises.