Concerns for jobs in three other institutions

WORKERS IN the banks not covered by last night’s recapitalisation deal fear their jobs could be at risk without clear Government proposals to support them.

Unite, the union which represents 3,500 staff in Irish Life & Permanent and EBS Building Society, called on the Government to act quickly in announcing its plans for those banks.

Neither was included in the €7 billion recapitalisation proposal which only covered AIB and Bank of Ireland.

Regional organiser Colm Quinlan warned that having different rules for AIB and Bank of Ireland, and another for their competitors, would send a confusing message to financial markets.

He said the Government needed to clarify its position in relation to these two institutions and Irish Nationwide, whose staff are not represented by any union.

“In the absence of such clarity they are very exposed. Lack of a clear message could impact very quickly on the markets and the institutions’ ability to access funds.

“This, in turn, could lead to thousands of jobs being placed at risk within days.”

Minister for Finance Brian Lenihan’s statement said the Government was in talks with the three banks regarding their capital positions and a review of the guarantee scheme announced last September which covered deposits in and loans to the three institutions.