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Sat 11 Nov 2008AIB chief says recapitalising banks will not ease credit flow
AIB CHIEF executive Eugene Sheehy has said recapitalising the banks would not increase the flow of credit into the economy. He said the bank had approached the European Investment Bank (EIB) for more loans to small businesses, writes SIMON CARSWELL, Finance Correspondent.
Speaking at the Small Firms Association's annual lunch at Croke Park, Mr Sheehy said: "Recapitalisation of the banks will not make credit more available. If it were a panacea, the UK banks would be lending more on the basis of it, but they are not."
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