Central Bank claims flexibility on bankers' pay, including removal of €500k cap, has merits

A proposal by the former governor of the Central Bank to return bankers' bonuses has been slammed.

In a letter to the Finance Minister Paschal Donohoe, Philip Lane gave his support to an end to the €500,000 cap on bankers' bonuses, saying the cap currently may limit the pool of people from which Ireland's banks can recruit for senior roles.