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ACC closure shows the banking sector is still the sick man of Irish economy: Doherty

25 October, 2013 - by Pearse Doherty TD


Sinn Féin Finance Spokesperson Pearse Doherty TD has said the decision by ACC Bank to withdraw from every day banking services and to return its banking license show that the banking sector is still the sick man of the Irish economy.

Deputy Doherty said:

“In 2014, the main streets of Ireland will see another banking option disappear. It also means 180 jobs in the financial sector will be made redundant. This round of redundancies comes on top of reductions in numbers at Ulster Bank and AIB.

“Six years into the financial crisis and with over €65 billion pumped into them the Irish banking sector remains a significant weight dragging down the potential for economic growth and this government has failed to come up with a real plan for the sector.

“The closure of ACC as a day to day service provider represents another shrinking of the banking sector and a shrinking of choice for Irish consumers.

“Thousands of jobs have been lost in the financial sector in the last few years without any sort of adequate government response. The closure of branches across the state is visible sign of a shrinking sector the government has no plan for.”

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