Letters

Friday 1 August 2014

Softly, softly

Published 22/11/2012|05:00

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• The present softly, softly approach by our Finance Minister Michael Noonan regarding the remuneration packages paid to the top executives of the former Anglo Irish Bank is an insult to the Irish people.

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This non-existent bank, that is now reduced to a mere debt collecting agency, is costing in the region of €200m to €300m a year in salaries and fees, yet, Mr Noonan – who was highly critical of what went on in this and other banks when he was in opposition – is prepared to tolerate those payment arrangements.

This was an unmitigated disaster of a bank that contributed to the near shut-down of this country by the same executives that Mr Noonan is now defiantly and arrogantly trying to protect.

His reason for this is that they are "ENTITLED" to these payments due to past arrangements and that he is powerless to change them.

Yet he agreed, and signed off on, a similar package for a seventh individual who was appointed in the past week.

How is it that it has not dawned on Mr Noonan that these so called "ENTITLEMENTS" are coming from borrowed bailout money that is being funded by the taxpayer?

It is even more incredible to think that €3.5bn will be taken out of the economy by Mr Noonan in next month's Budget, and then next March he will be handing over €3.1bn of that to the Anglo gamblers in Germany.

In the circumstances of austerity that prevail at present in this country, this approach is demonstrating total disrespect and contempt towards the Irish people.

They should face down these and the other individuals (ex-politicians) who are receiving enormous pensions and undeserved remuneration packages.

Christy Kelly
Templeglantine, Co Limerick

Irish Independent

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