Kieran O'Donnell (Limerick City, Fine Gael)
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Can I move on? In terms of the model ... the remuneration scheme that was in place. In 2007-2008 the bonus scheme that was in place for the top executives, 75% of the bonus related to earnings per share. And, Mr. Boucher, in the year in which you took over as ... you became a director ... for 31 March 2007 accounts, you made a bonus of two and a half times your basic salary, which was ... your basic salary was €242,000 and your bonus was €615,000. The following year in '08 you had a basic of €550,000 and you made a bonus of more or less the same amount. So the quick question I have to ask of you ... and thereafter your salary when you became the CEO overall at the ... in 2009, your salary jumped from €580,000 per annum to €690,000 per annum, an increase of 20%, €110,000. The questions I have was, the model that was put in place for bonuses, did it lead to irresponsible lending? Did lending, property lending become a quick fix for earnings per share growth in the bank? And how do you justify taking that level of salary in 2009 of €690,000 when the Irish taxpayer was putting €3.5 billion into your bank at that same time? So if you could deal with those points, Mr. Boucher ... how can you justify that level of salary?