Madam, – When politicians and the press are finished cheering the blocking of AIB Capital Markets bonuses perhaps we can look and see what has actually been achieved in our little democratic republic this week.
We have managed to make a mockery of employment contracts, remove employee incentives to outperform (outside of the Department of Finance) and left the tabloid press harass a man and his family because he was good at his job.
What really galls me is the attitude of the Minister for Finance. He went out of his way to bring in legislation to prevent a group of taxpayers from being paid as promised because part of their remuneration is paid in arrears based on their output and not just on turning up: AIB Capital Markets exceeded its targets; let’s tear up the contracts!
All the while, the people who broke the banks and the country retain large pay-offs and pensions. Does the Minister really believe that international investors are going to be impressed by a Government that targets an innocent group of workers to satisfy the mob? Any wonder our neighbours continue to view us as a nation of begrudgers? – Yours, etc,
Madam, – Two letters (December 16th), from David O’Reilly in London and Joseph Smith in Massachusetts, state AIB should pay their traders’ bonuses and both suggest that begrudgery is a factor in our motivation not to pay.
Mr Smith in defence of the bonuses warns if Ireland is not to put up the communist red flag it should adhere to its “social democratic values” “based on the principles of free market enterprise” Logically that would mean closing down bankrupt and insolvent AIB and the loss of the jobs for those traders he is so passionately fighting for.
Mr O’Reilly in his contribution states “if my employer tried to reduce my salary and benefits retrospectively, I would be livid”.
Perhaps both these gentlemen are confusing “begrudery” with the symptoms of a nation in which the majority are suffering from being “livid”. – Yours, etc,