One law for banks and another for farmers
Sinn Féin EU candidate for the North West, Pearse Doherty, has contrasted the manner in which the banks treat their farmer customers to the growing evidence of internal malpractise. Mr. Doherty was speaking as yet more evidence emerged regarding the manner in which AIB in particular, have been allowed to operate over the past number of years.
Mr. Doherty was speaking before a two day Rural Development Conference which is taking place in Westport, Co. Mayo (31st May - June 1st):
"There are tens of thousands of farming households throughout this state who are massively in debt. Last year farmers owed €1.1 billion. Many of them are finding it extremely difficult to survive in these circumstances. Many of them also find that they are treated with little understanding by the banks and this stands in sharp contrast to the kind of practices which we have seen are tolerated among the golden circle of banking in this country.
"It is time that the state intervened to ensure that the banks are made more sensitive to the problems of their ordinary customers including farmers. They must also be made to tailor their lending practices to ensure that the chief aim is productive investment rather than the banks' own obsession with maximizing their already massive profits."ENDS