Central Bank pays out €30m in consultant fees

Minister for Finance Michael Noonan has confirmed that the Central Bank last year paid €29.9m in fees to consultants for their work in the banking crisis.

This €29.9m spend last year brings to €88m the amount that has been paid to consultants by State agencies concerning the banking crisis from 2008 to the present.

The largest fees have been paid by the Central Bank with a total of €38.4m paid to consultants over the four years. Last year, the Central Bank paid €29.9m to firms compared to €1.3m in 2010; €3.4m in 2009 and €3.8m in 2008.