[quote=“Mairegangaire”]Well I know AIB are rumoured to be asking for contributions from Staff for their pensions.
Cheek of’em[/QUOTE]
When I worked in AIB (6 yrs ago) I would have been contributing to my pension anyways. Think the DB is long gone for new joiners
Ya, the majority of BOI staff contribute already as well.
hm
What do you lot plan on doing with your share of AIB?
Shares in banks fall after reports of AIB nationalisation
Shares in the country’s two largest banks have fallen sharply in early trading on the Irish Stock Exchange this morning.
Bank Of Ireland’s down 11.5% and AIB by over 19%.
It follows reports the government will take larger stakes in both institutions following transfers of loans to NAMA than previously expected and may effectively nationalise AIB.
All is expected to be revealed in a series of announcements from the Finance Minister tomorrow evening.
Newstalk’s Business Editor Conor Brophy is following the story.
“From talking to banking sources over the weekend, the feeling seems to be first of all that AIB will be able to avoid part-nationalisation – it’s going to be over 50% anyway, that much is true” he said.
“Bank of Ireland seem to be relatively optimistic – from people I was talking to – that they can somehow manage to avoid getting over even the 50% mark” he added.
The banks are proper fucked, Anglo nationalised, majority stake in AIB, just shy of a majority stake in BOI, fucking hell.
On another note, anyone having any problems logging into Banking 365?
No, unfortunately I’m able to log in and check my balance.
Fucking new surf control in work. Fuck all you IT cunts. 
BANK of Ireland chief Richie Boucher last night caved in to intense pressure and effectively handed back his controversial €1.5m pension deal.
He did so after warnings from unions and politicians that his generous package was threatening to scupper the fragile Croke Park pay deal.
Mr Boucher (51) waived his right to retire at 55 and that means the bank now has to set aside far less for his pension at this stage. Last year, the bank’s board struck a deal with Mr Boucher which gave him the option to retire at 55 on a pension of 59pc of his salary. This compares to the normal deal of chief executives who step down at 60 on 66pc of their final salary.
In a statement last night Mr Boucher acknowledged the level of comment and debate his pension arrangements had generated. The news will be seen as a victory for unions and those attempting to get the Croke Park pay deal over the line.
It also removes a huge distraction for Bank of Ireland as it lines up a €3.3bn capital-raising deal which will be announced on Monday.
Last night’s decision by Mr Boucher followed a day of severe criticism of his package.
He had little choice in the end, the bank themselves are in the middle of trying to negotiate with staff about reductions to their pension entitlements and this debacle seriously weakened their position.
Last night’s decision by Mr Boucher followed a day of severe criticism of his package.
Jesus thats a bit uncalled for.
31/05/2010 - 16:12:42
Finance Minister Brian Lenihan has confirmed that an additional €2bn is being made available to Anglo Irish Bank after losses sustained in the transfer of loans to NAMA were greater than anticipated.
The bank has already been given €12.3bn in taxpayers’ money in recapitalisation.
Minister Lenihan in March warned there was a possibility that the now State-owned institution could need another €10bn, depending on the level of discount applied to the loans going to NAMA.
Today he revealed there is further impairment on the remaining loan book.
Read more: http://www.breakingnews.ie/ireland/anglo-to-get-further-2bn-injection-459853.html#ixzz0pWTl1W6E
Everyone was on about the “haircut” on the Nama transfers and how the lower the Government paid for the loans the better deal it was, but now they have to make up the deficit in Anglo regardless. Are these banks (especially Anlgo) just a bottomless hole?
Jugs seems like a clever character.
I initially thought that myself but quickly realised the shortfall would have to be made up anyway. The answer to your question is: Yes. Morgan Kelly’s points in his article lat week were on the button. All this money which might as well be being burned is not being counted as part of the national debt. His other point was that GNP is a far more accurate reflection of Ireland’s national debt than GDP. It’s Enron-style accounting. We are where we are, except we aren’t really where the books say at all. The likes of Jugs and Tinnion would have fitte in well at Enron I’d say.
He does indeed, i remember reading some of his stuff in the past and it tallies up with what a buddy of mine has been saying as well, who’d seems to be equally calm and analytical about it all.
Jugs calls it like it is B)
I’m an eternal optimist. If everyone else had been as positive in such difficult times maybe we wouldn’t have seen a run on the banking shares and maybe the country wouldn’t be in such a pickle now.
The new boss at Anglo Mike Annesley told the Oireachtas yesterday that most of the €22bn bailout cash for Anglo is now gone and unlikely to ever be recovered. If somebody doesn’t serve jail time over this (the anglo debacle) it’s an outrage.
Only one game in town this week
Buy Buy Buy!!!