Probably need cash to pay bonuses...
Tánaiste Eamon Gilmore has insisted bonuses and deferred payments of €1.2 million to executives at Anglo Irish Bank, were “contractually committed to”.
He said they were from 2009 and before the nationalisation of the bank. Mr Gilmore said bonuses in the bank had been ended since nationalisation.
Sinn Féin deputy leader Mary Lou McDonald said in the Dáil that of 50 senior people employed at the bank at the time it was “at the height of its dangerous casino capitalism”, 22 were still in employment there, and 19 of them were on salaries of more than €175,000. She added there were developers who were “pocketing €200,000” a year.
Figures revealed in The Irish Times showed six of the bank’s executives received deferred bonus payments totaling €925,000 last year. Four staff also received just over €296,000 “in lieu of committed remuneration arrangements” on their appointment to the bank.there is more