'Banks not focused enough on entrepreneurs': Economist Antoin E Murphy
The mindset of Irish banks is still linked to the property market, and must switch focus to entrepreneurs, according to a leading economist.
Antoin E Murphy said Irish banks were not devoting time and energy to allowing businesses get access to funds.
Speaking at the Cantillon Economic Forum in Tralee in Co Kerry, professor Murphy said we needed to link the financial institutions with the real economy.
"You have a monetary economy and a real economy and these have to link together in order to have an economy that is viable and that can go into a growth phase," he said.
"The Irish banks are not devoting a huge amount of time and energy to ensuring that the entrepreneurs in this community get access to considerable quantities of funds…Banks have to have some vision about entrepreneurs."
