Kilkenny Mayor David Fitzgerald says the country can’t return to bonus driven banking system

The Mayor of Kilkenny says Pachal Donohoe can’t allow us to go back to the bonus-driving banking system that caused the last economic crash.

Banks will be allowed to pay bonuses of up to €20,000 to staff after Cabinet agreed to ease recession-era restrictions yesterday on the Finance Minister’s recommendation.

The €500,000 pay cap at the Bank of Ireland is also being lifted because it’s no longer State owned.

Cllr David Fitzgerald says he’ll be voicing his concerns to his Fine Gael colleague.