Thursday 22 February 2018

A sacrifice that would matter

WHEN Richie Boucher, chief executive of the Bank of Ireland, was given a pension top-up of €1.5m, ordinary mortals found it hard to understand the rationale for it. But they had no difficulty in understanding the difference between that payment and the pensions of the general body of workers, including bank workers.

Finance Minister Brian Lenihan says he does not have the power to reverse the decision. That puzzles the public, who are paying billions for bank bailouts. Fine Gael and Labour, for their part, contest the minister's assertion.

But the most intriguing contribution to the argument has come from Mr Lenihan's Cabinet colleague Eamon O Cuiv, Minister for Social Protection. Mr O Cuiv says that the Government cannot stop the payment, but that Mr Boucher should renounce it voluntarily. "I am asking him now."

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