Ireland’s small business trap…

Moody’s have just announced that it expects Irish banks will regain substantial market funding access only after considerable progress in deleveraging. Err, that sounds nasty. Meanwhile Associate Professor Brian Lucey has been telling people in his home town in Kerry how it’s going to be:

“People in small businesses need to be aware the banking system will continue to be broken and access to capital will get even more problematic.”

Trans. The banks won’t help you and the government can’t… It’s the same for stricken countries all over Europe… How long will the new PP government in Spain last, if it has no means to get out of this hole…