Words fail as the figures say it all
Procrastination is a culture that has trickled down from the heights of government, writes Eilis O'Hanlon
Published 12/12/2010 | 05:00
Don't put your daughter on the stage, Mrs Worthington -- get her a job in the bank instead.
Executives at Allied Irish Banks certainly don't have to worry where the money for Christmas is coming from, since they've just been awarded bonuses totalling €40m. They didn't have to worry last year either, when they collectively trousered €50m. Next year? Perhaps we should all chip in to ensure it's not third time unlucky for AIB's, ahem, finest. Meanwhile, that gut-wrenching sound you can hear is €3.5bn of your money slipping down a drain at the bank's HQ, that being the amount which has so far had to be stumped up to save the ailing institution.
This is one of those moments when words really are insufficient to convey the utter lunacy of Ireland at the fag end of 2010. The figures say it all. This is a bank which is currently deemed to be worth only €570m on the Iseq, and in two Christmases they've given €90m of it away to the very people whose decisions brought it to its knees.