Oireachtas Joint and Select Committees

Thursday, 20 December 2012

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Role and Contribution of Public Interest Directors in Financial Institutions: Discussion

1:35 pm

Photo of Joe HigginsJoe Higgins (Dublin West, Socialist Party) | Oireachtas source

Alder Capital is a currency speculator and has speculated heavily against the euro over a number of years, reportedly making massive profits as a result. Its co-founder Brian McCarthy boasted "we have capitalised on the weakness of the euro". Does Mr. Spring accept that there is a fundamental and fatal conflict of interest in representing the Irish people as a public interest director in AIB while wearing another hat as chairman of a company active in the financial markets system - the casino economy - which seeks to profit at the expense of the Irish and European people?

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