Pearse Doherty (Donegal South West, Sinn Fein)
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I think Mr. Spring's answer to whether he is worth the €1,000 per day fee on top of his pension, rings similar to Dr. Somers's answer - if he does not mind me saying so - when he was receiving more than €1 million in payment as chief executive of the NTMA.

Dr. Somers may believe public servants should receive lavish pensions plus €1,000 per day to serve on the board of AIB, but there are many who do not believe it serves their interests, in particular, the one in four who are in mortgage distress and those who have seen increased fees and increases in variable interest rates out of line with ECB rates. I share their view that it is inappropriate.

The Personal Insolvency Bill provides that those in mortgage distress can restructure their loans. They will be able to reduce their debt burden and to have their debt written off after a process is gone through. Is it the view of the public interest directors that this is something which needs to be done and that AIB must ensure that debt write-offs take place? Will they ensure that AIB does not use the veto contained within the legislation? I draw the attention of the public interest directors to what Mr. Fergus Murphy of AIB said in answer to me when he was before the joint committee. He said the sum written off thus far is €600,000. He said any write-offs will be minuscule or near zero. He said that on a balance sheet of €95 billion, €600,000 is zero and that AIB was not writing off debt. Do the public interest directors agree with that and do they believe that is the position the bank should take after the Personal Insolvency Bill is enacted?