97 Deputy Joan Burton asked the Minister for Finance if his attention has been drawn to the fact that there was a fall of 10% in the amount that Irish residents held in their current accounts between August 2007 and August 2008 from €32,857 million to €29,601 million, that there was a 12.6% fall in their demand deposits over the same period from €29,601 million to €25,733 million, that overdrafts increased by €1.1 billion over this period while overnight deposits declined by almost €1 billion and that these figures indicate a picture of a rapidly shrinking money supply in the Irish economy and indicate that borrowers in the Irish economy will soon be unable to service their loans while small businesses will face serious cash flow problems; the action he will take to address this crisis of liquidity in the Irish economy; and if he will make a statement on the matter. [39048/08]

Summary

97 Deputy Joan Burton asked the Minister for Finance if his attention has been drawn to the fact that there was a fall of 10% in the amount that Irish residents held in their current accounts between August 2007 and August 2008 from €32,857 million to €29,601 million, that there was a 12.6% fall in their demand deposits over the same period from €29,601 million to €25,733 million, that overdrafts increased by €1.1 billion over this period while overnight deposits declined by almost €1 billion and that these figures indicate a picture of a rapidly shrinking money supply in the Irish economy and indicate that borrowers in the Irish economy will soon be unable to service their loans while small businesses will face serious cash flow problems; the action he will take to address this crisis of liquidity in the Irish economy; and if he will make a statement on the matter. [39048/08]

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