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Credit Unions must be allowed lend to SMEs if the current barriers to such businesses obtaining finance are to be overcome.

Labour Party TD Willie Penrose has said this week’s Budget is bereft of hope for people who have lost their jobs. “With well over 400,000 people in Ireland looking for work, surely the number one priority for this budget should have been job creation? We had every right to expect that the budget would put forward some concrete proposals to get people off the dole queues and into jobs, but instead we got nothing.”

The Labour Party in Galway will hold a major meeting on employment and economic issues on Thursday June 17 at 8pm in the Harbour Hotel.

Germany state lender KfW transferred €300 million to Lehman Brothers on the day the US giant filed for bankruptcy.