Thursday 8 December 2016

Daniel McConnell: Noonan's excuse on pay and pensions starting to wear thin

Published 18/11/2012 | 05:00

The minister says he is powerless, but he has options to put manners on greedy bankers.

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Two weeks ago, Finance Minister Michael Noonan came in for significant criticism for saying he was powerless to tackle the excessive pay and pension levels at the top of Ireland's bailed-out banks.

"There are some historic salaries above the ceilings, but they are a matter of contract and I wasn't legally empowered to reduce them and they are very few at this stage," he was quoted in our front-page story, which was picked up internationally.

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