Derek Keating (Dublin Mid West, Fine Gael)
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Question 206: To ask the Minister for Finance the position regarding negotiations between Allied Irish bank and the Irish Bank Officials Association to deliver a fair and reasonable outcome for all those employed in the bank who will be made redundant; and if he will make a statement on the matter. [19898/12]

Michael Noonan (Limerick City, Fine Gael)
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The Deputy will be aware that AIB, as part of its announcement of 8th March 2012 of a voluntary severance programme, stated "as required under the bank's partnership principles with IBOA, a consultation process will begin immediately with trade union representatives." It went on to state that "AIB will not be making any further public comment until the consultation process with staff representatives is concluded." As these discussions are continuing, with the assistance of the Labour Relations Commission, the Deputy will appreciate that it would not be appropriate for me to comment directly on some of the issues raised in his question which form part of these negotiations.

In any of my public pronouncements on the issue, I have been at pains to point out that all parties involved in this most sensitive of issues for individuals need to be treated with utmost consideration and respect and this most certainly includes the State which has contributed in excess of €20bn to the bank.

It is deeply regrettable, for all concerned, that the proposed action of shedding some 2,500 jobs has had to be taken but it is an inevitable consequence of the necessary restructuring of the banking system to render it fit to better serve personal and business customers throughout the economy.