Seanad debates

Thursday, 7 February 2013

12:00 pm

Photo of Mary WhiteMary White (Fianna Fail) | Oireachtas source

It would have caused a national uproar had it been a private company or, above all, a multidnational. According to the general secretary of the Irish Bank Officials Association, Mr. Larry Broderick, there is real fear among the former employees who were formerly employees of Anglo Irish Bank, that they will be overlooked completely or, at best, disregarded as collateral damage. The Minister for Finance stated the majority of the IBRC staff would be rehired to assist the liquidator, but greater clarity is needed, as he has given no guarantee whatsoever to the former State employees.

I cannot resist saying there is a clear golden circle of auditors who are repeatedly rewarded with large Government contracts, as I have observed during the years. I include Deloitte, Arthur Andersen, PwC and KPMG. I question the criteria used when selecting KPMG as the liquidator for the IBRC.

The unemployment rate is 14.6% and it is increasing year on year.

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