FG threaten massive penalties for rogue banks

FINE GAEL deputy leader and finance spokesman Richard Bruton said Fine Gael in government would consider radical restructuring and regulatory changes in the banks to make sure the country was never held to ransom again by a failed banking sector.

Neither did he rule out breaking up Bank of Ireland and AIB, if that is what was required to prevent another financial crisis.

He told the Irish Banking Federation’s National Conference a Fine Gael government would introduce new banking offences with massive penalties.