politcal news from Cork, Ireland
Fianna Fáil Finance Spokesperson Michael McGrath has welcomed the fact that AIB has finally written to former directors of the bank asking them to voluntarily forego some of their extraordinarily generous pensions and has called on the other State supported banks to do likewise.
Officials from the Department of Finance are members of the AIB committee that approved the €1.1 billion bailout of the bank’s pension scheme that pays extraordinary pensions to some of the bank’s retired top brass, according to Fianna Fáil Finance Spokesperson Michael McGrath.
THE prospect of standard variable rate mortgages rising to between 5% and 6% over the medium term will send shivers down the spine of thousands of AIB customers, according to the Fianna Fáil Finance Spokesperson Michael McGrath.
FIANNA Fáil Spokesperson on Finance, Michael McGrath TD, says the latest comments from a German spokesperson that Germany will continue to “co-operate closely” with the Irish Government to ensure a successful outcome to the Irish Programme of Assistance do nothing to clarify the situation arising from Chancellor Merkel’s comments yesterday.
THE statement this afternoon by German Chancellor Angela Merkel that there could be no back-dated recapitalisation of eurozone banks is, on the face of it, a massive setback to achieving a deal on Irish bank debt and requires an immediate response from the Irish Government, according to Fianna Fáil Finance Spokesperson Michael McGrath.
“As interest rates continue to rise on mortgages and loans, the Government has left thousands of borrowers in Cork to the mercy of banks despite promises to help,” said Cork South Central Fianna Fáil TD Michael McGrath.
FIANNA Fáil Finance Spokesperson Michael McGrath has welcomed confirmation from Minister for Finance Michael Noonan that the government intends to implement two financial measures proposed by Fianna Fáil.
Serious sanctions must be imposed on banks and banking executives found to be responsible for the mis-selling of payment protection insurance policies to thousands of customers over the past five years, according to Fianna Fáil Finance Spokesperson Michael McGrath.
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