Irish Banks

The Irish Government has threatened the Allied Irish Bank that it will withdraw state financial support if it pays its staff bonuses of up to £34m, and guess what the bank has backed down saying
"Previously the Board had received strong legal advice that it was obliged to pay these bonuses. However, the letter from the Minister conveys a decision by him to legislate which overtakes this obligation."
"The Board of AIB very much welcomes the actions of the Minister and is relieved to be in a position not to pay these bonuses."

Surely this is what our government should be saying to the banks and the City, ah! but hold on silly me! there are vested interests afoot!!