SIPTU criticises ‘each-way bet’

THE country’s largest trade union has criticised the Government’s decision to give banks “a gilt-edged insurance policy” without having to pay a high premium for that security.

SIPTU president Jack O’Connor said Finance Minister Brian Lenihan’s decision presented banks with an each-way bet at the expense of the taxpayer.

“These people have extolled the virtues of the free market fundamentalism and insisted we all play by its rules; ruthless and all as they are. Now they find themselves with an each-way bet. The rules do not apply to them.