ECB taken to task over SME finance in Central Banking debate
Central banks have "unreasonably neglected" the problem of small- and medium-sized enterprises' (SMEs) inability to access finance, according to participants in Central Banking Publication's latest On Air debate.
Richard Portes, a professor of economics at London Business School, said it was "unfortunate" that the European Central Bank (ECB) had not acted on SMEs' funding difficulties, and called for "more direct intervention" from the central bank.
Bill Allen, formerly the Bank of England's
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