Pearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source

I must disagree strongly. I made this point yesterday, that this was a sweetheart deal. In 2008, the Minister decided to talk to the Opposition parties on public interest directors and they put forward nominees, but they had absolutely no strength, no mandate and no specific role outside what another director has. The Minister appointed four former politicians, from the Labour Party, the Fine Gael Party and the Fianna Fáil Party and three former Secretaries General. It allowed the witnesses to draw down hundred of thousands of euro in expenses over a period. I do not see any positive impact on the banks from the role they have played on the boards of the banks.

The former Minister, Mr. Walsh stated he was on the remuneration committee since January 2009 and that the remuneration was in line with the terms laid down by the Government. Mr. Walsh was on the remuneration committee when the bank paid out €66,370,000 in bonuses between September 2008 to December 2010. How can he stand over the fact that was allowed to happen when it was in complete breach of the Government guidelines that no bonuses were to be paid following the Government bank guarantee?