Hi °C | Lo °C GOVERNMENT TDs are lobbying to get better redundancy packages for the staff in the former Anglo Irish Bank who did "an honest day's work".
And United Left Alliance TD Clare Daly – who has been one of the strongest critics of paying the debts of Anglo Irish Bank – said the staff had not been treated with "dignity or respect".
"If workers at the helm of these banks are being treated this way, it is also the case other workers across the country are being let down by this (Anglo debt) deal," she told the Dail this week.
There is little public sympathy for the 850 employees due to the toxic reputation of Anglo, the IBRC.
But the staff have now got the support of some government TDs as they bid to get an increase in the basic redundancy package of two weeks per year of service being offered.
And the union representing the staff, the Irish Bank Officials Association (IBOA), warned that industrial action can't be ruled out. Such a move could interfere with the management of IBRC's €15bn loan book, which is understood to be keeping some major companies in the State in operation.
Labour Kerry North TD Arthur Spring said the frontline IBRC staff had done an "honest day's work" to put right what a few people in Anglo "did wrong".
"There's a level of fairness that needs to be administered. I'm calling on the Minister for Finance to work with the staff," he said. Mr Spring has put it on the Dail record that he was once employed by Anglo.
He said he would like to see the redundancy package doubled from two weeks to four weeks per year of service to match what had already been provided to recently departed Anglo staff.
Staff have also received support privately from other Labour and Fine Gael TDs.
The Government has insisted that the redundancy payments are a matter for the liquidator – and that many IBRC employees will be retained by the liquidator or rehired by NAMA to manage the Anglo loans.
IBOA general secretary Larry Broderick said it was not fair that IBRC staff were now at risk of becoming the "collateral damage" from the Government's liquidation of the company.
Meanwhile, credit unions have been told that they are going to lose millions of euro due to the liquidation of Anglo Irish Bank.
Jeopardy
The Irish Independent yesterday revealed that up to €12m invested by between 10 and 12 credit unions was in jeopardy.
There is no threat to the savings of credit union members, which are covered by the state guarantee.
But the credit unions have been told by the liquidator, KPMG's Kieran Wallace, that their investment is classed as "unsecured" – meaning they will be at the end of the queue for repayment when the bank is shut down.
Irish Independent
