The IEA in responding to the Tanaiste Mary Coughlan‘s comments on a state guarantee loans scheme, stated;

The credit squeeze and its impact on small to medium sized business, particularly those with export and import activity, have been steadily rising over the past 12 months. If the Government is serious about assisting the sector, then a wider brief needs to be taken in arriving at a solution, which should involve both loan guarantee and credit insurance guarantee. Both are locked together, both affect the credit rating of business and the ability of the banks to provide competitive loans.