Dublin Sinn Fein Sinn Féin -- Building an Ireland of Equals

Government must reign in Fingleton's million - Sinn Féin

Published: 24 March, 2009

Speaking at a protest outside the headquarters of Irish Nationwide on Charlemont Street today South Dublin Sinn Féin representative Shaun Tracey called on Minister for Finance Brian Lenihan to ensure that Bank Executive Michael Fingleton is made to give back the €1million bonus he received last November and to instruct the bank to impose a cap on its pension arrangements with employees.

He said if Irish Nationwide is not prepared to enforce strict corporate policies and reign in senior executive pay then they should be removed from the Government bank guarantee scheme.

Mr. Tracey said, "There is widespread and justified anger among the public that big bankers such as Michael Fingleton continue to receive obscene bonuses and pensions arrangements while ordinary workers are forced to take pay cuts.

"Finance Minster Brian Lenihan must ensure that Fingleton is made to hand back the €1million he received last November. Bonuses are meant to be paid as a result of good work and productivity yet these bankers still receive obscene amounts after destroying our financial services.

"The Government must also ensure that Irish Nationwide imposes a cap on its pension arrangements.

"If Irish Nationwide is not prepared to impose strict corporate policies and reign in executive pay then they should be removed from the Government bank guarantee scheme." ENDS