Dublin South West representative, Seán Crowe TD, has said the decision by ACC Bank to pull out from its every day banking services and to return its banking license highlights a undeniable fact that elements of the banking sector are still dragging back and hindering the Irish economy. Crowe said that the closure of the Agriculture Credit Corporation as a day to day service provider also represents another reduction of the banking sector and a reduction of choice for Irish consumers.
Deputy Seán Crowe said:
“In 2014, the people of Ireland will see another banking option disappear. It also means that another 180 jobs in the financial sector will be made redundant. This latest round of redundancies comes on top of huge reductions in numbers at Ulster Bank and Allied Irish Bank.
“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 yet to come up with a productive plan for the sector.
“The closure of the Agriculture Credit Corporation as a day to day service provider represents another reduction of the banking sector and a reduction 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 ACC branches across the state is another visible sign like the many empty shop fronts, of a shrinking sector of the economy and unfortunately this government has no inkling of a plan to fix it.”
ENDS