BOI 3.5% pay rise

Re: So private sector are taking pay cuts are they?

probablu should rename title so as to not start public private debate and call it something like "BOI 3.5% pay rise"

Guess they don't need to be bailed out if they can afford pay rises
 
It is laughable but what the bank workers will say (well the ordinary ones anyway, ie not executives or senior managers) is that "we personally didn't cause the problems".

Its the standard line that everyone is coming out with these days on TV interviews.

Very few of us did cause the problems but we all have to suffer.

The thing is, didn't these banks still make profits, technically? If so, they are the same as ESB surely, and are able to do pay rises?

I just hope that no bank employees above a certain level get a rise. They are the policy makers and allowed many to get us into this mess. Didn't Cowan say the other day that he wanted the top executives to take a 25% pay cut?
 
According to the above article they will have projected losses of €424 million by next March. Yet they find €500,000 for a corporate box at Landsdowne.

They have some neck.
 
Ron Burgundy said:
i think i'll move bank:mad:
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Might join you.

Problem is, all the banks will do the same, so your only option is to keep the money under the mattress.

If I can find a bank that says now that they won't be paying any rises, bonuses or perks for the next 2 years, I'll move my money to it.
 
RMCF said:
If I can find a bank that says now that they won't be paying any rises, bonuses or perks for the next 2 years, I'll move my money to it.
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Unless they're paying them to us, the customers of course :D
 
BOXtheFOX said:
Remember when these guys were making €1 million profit per day!
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And now they're losing more than that per day. But lest we forget..."you pay peanuts you get monkeys" was often flouted regarding their (senior management) ridiculous salary levels. Frankly I can't see how a monkey could possibly have done any worse. I wonder if they'll return those handsome bonuses?
 
RMCF said:
Didn't Cowan say the other day that he wanted the top executives to take a 25% pay cut?
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He says a lot of things but never acts on them. He will make most of us suffer by January of next year with tax increases. No faith in anything he says anymore.:mad:
 
It seems not every bank in the European Community are currently making huge losses. A lesson to be learned here perhaps.

[broken link removed]
 
RMCF said:
Might join you.

Problem is, all the banks will do the same, so your only option is to keep the money under the mattress.

If I can find a bank that says now that they won't be paying any rises, bonuses or perks for the next 2 years, I'll move my money to it.
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Well i've had other problems with them and this is the final straw for me.
 
BOXtheFOX said:
Remember when these guys were making €1 million profit per day!
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But were they, really?

Surely it was all just bad debts they were creating, which have the POTENTIAL to pay back this sort of profit, but when people default on loans then you don't get that back, and the taxpayers have to save your ass.
 
RMCF said:
It is laughable but what the bank workers will say (well the ordinary ones anyway, ie not executives or senior managers) is that "we personally didn't cause the problems"........The thing is, didn't these banks still make profits, technically? If so, they are the same as ESB surely, and are able to do pay rises?.......quote]

Crazy feature of the so called National Wage Agreement is that a business can only plead 'inability to pay' when it is in the red; so if for example profits fall by 99%, the unions can argue that the business is still profitable, and therefore must pay. The business may be forced to pay, which could then push it over the edge, with the net result that the self same union that forced it to pay, then leads the call for intervention by the state or investors to save the company to protect jobs............
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Government should sack all employees and directors of banks that are being recapped.
They should be made then to sign new contracts at 75% of their old salary with no bonus promises.
(25% deduction for bad debts)

They got us into this bad debt mess and should be made to pay for it.


But will goverment do this?

We must be told!
 
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