Thursday 8 December 2016

Old practices at Central Bank are holding back 'new Ireland'

Published 02/05/2011 | 05:00

THE Central Bank likes to see itself as a beacon of 'new Ireland', the no-nonsense authority that will put manners on our banks and insurers and put an end to the disastrous financial practices of old.

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But behind that 'new Ireland' ambition lurks a decidedly 'old Ireland' legacy -- some 699 staff on the kind of employment contracts that epitomise the cosy conditions in the often unproductive public service.

These 699 staff -- just over half the Central Bank's 1,301 full-time staff -- are required to be at their desks for just 32.5 hours a week, working hours described as "exceptionally low" by employers' body Ibec.

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