Pearse Doherty (Donegal South West, Sinn Fein)

People across the country were livid when they read in the newspapers that Colm Doherty was to receive a €3-million golden handshake. The Minister himself stated that it is his intention to replace all board directors who were appointed prior to 2008. I put a question on this earlier but the Minister did not deal with it. Has the Minister got a grip on this issue? As regards those officials whose contracts he plans to terminate prematurely, has he examined the assessment of remuneration and golden handshakes to which they will be entitled? How much will the State have to pay off under those contracts? What is the position concerning public interest directors in those banks? One of the public interest directors who was there when the package for Colm Doherty was signed up to, is a prominent member of one of the Government parties. Does the Minister agree with his colleague, the Minister for Justice and Equality, Deputy Alan Shatter, who told the recent annual meeting of the Association of Garda Sergeants and Inspectors, that bankers who caused huge losses, brought banks to the point of collapse and almost bankrupted the State, should not be rewarded? He also said that there was such a fundamental breach of contract that they should not be entitled to the rewards they are seeking. Is that the Minister for Finance's position? Does he believe that there will be no more golden handshakes?

On bankers' remuneration, we know there is a cap of €500,000 for senior bank officials. How is it then that the CEO of Anglo Irish Bank, Mike Aynsley, received €474,000 in 2010 above that cap, bringing him total earnings of €974,000? What is the Minister prepared to do about that in future?

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