Adam S. Posen - Member of the Monetary Policy Committee, Bank of England
British banks are not doing enough in their role of supporting the country's wider economy in the wake of the recession.
That is the opinion of Adam Posen, policymaker at the Bank of England, who believes financiers need to be more proactive in their stance towards assisting the nation's recovery.
Some lenders have argued recently that the primary reason the number of loans being taken up by businesses has fallen is a lack of demand rather than a shortage of supply.
However, while speaking on the BBC's Wake Up to Money podcast, Mr Posen insisted that although some companies have decided to avoid getting more credit due to the fragile climate, it is "crazy" to suggest this is the sole factor behind this trend.
Earlier this week (6 February), the Ernst & Young ITEM Club revealed that loans from banks are likely to slip by 2.2 per cent throughout 2012.
By Tony Aynsley
