We can't afford Boucher's deal
Published 21/04/2010 | 05:00
THERE is something crudely detached from the prevailing realities of life in Ireland and brazenly indifferent to public policy about the decision by the Court of the Bank of Ireland with respect to the recently disclosed pension arrangements for chief executive Richie Boucher.
The Bank of Ireland staff pension scheme is reporting a deficit of more than €1.6bn. The group lost more than €1.8bn for the nine months of 2009 since the appointment of Mr Boucher as chief executive.
It is disposing of businesses that it can no longer sustain.