'Bonuses Bill' would ensure bankers earn payouts

Fianna Fáil social protection spokesman Willie O’Dea has published legislation aimed at restricting bonuses paid to senior bank staff.

Mr O’Dea said the Credit Institutions Stabilisation Amendment Bill 2012, which he dubbed “the Bankers’ Bonuses Bill”, would restrict bonuses of more than €1,000 to bank employees on basic salaries of more than €60,000. “Banks played a very, very significant role in the economic destruction of this country over the last 10 to 15 years. Basically what I’m trying to do is I’m trying to ensure that bankers who get bonuses actually earn those bonuses,” he said.

Mr O’Dea became spokesman for social protection in leader Micheál Martin’s recent reshuffle.