A report out today claims Irish banks are second only to their Greek counterparts in the Eurozone when it comes to refusing business loans.

The research by Central Bank economists also says the high rejection rate of 24% ‘cannot be explained’ by the quality of those looking for cash.

Over 1-in-4 businesses seeking a loan or overdraft was turned down in the 6 months to March.

That compares to 1-in-28 in Germany and is double the average in the Euro area.

Newstalk’s Business Editor Ian Guider explained the key findings to Breakfast.

Meanwhile the Fianna Fail spokesperson on Public Expenditure and Reform Senator Thomas Byrne is calling for a change in the criteria that the government uses to measure the level of lending being done by Irish banks.

He told Breakfast here on Newstalk that financial institutions should have to distinguish between new lending and restructuring of existing loans.