Fine Gael question Bank Guarantee Plans

Enda Kenny – Fine Gael leader said yesterday

“This morning we asked the Government some basic questions regarding their proposed scheme to guarantee bank deposits and hoped to get some answers this afternoon in the Dáil. The response from Government to date has not inspired confidence and key questions remain. These questions include:

1. Will the Government insist on appointing personnel to the risk management committees of the banks covered by the guarantee to ensure that taxpayers’ interests are being directly represented?
2. Will the new guarantee scheme deal with issues such as:

– excessive bonus payments to executives in the affected banks
– the halting of dividend payments while the guarantee scheme is in place, and
– the ending of risky business practices such as derivative trading by the banks involved.

3. What wider new regulatory framework will be implemented to deal with this totally new reality facing Irish banking and Irish taxpayers?”

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