‘Appropriate’ punishment for bank executives

MINISTER for Finance Brian Lenihan warned yesterday that there would be “appropriate” punishment for those executives seen to have eroded the reputation of the Irish banking sector over the past number of months.

“The actions of those who have tarnished the reputation of Ireland will be dealt with through the appropriate processes,” Mr Lenihan promised during his budget address to the Dáil.

The minister made the comment while dealing with the thorny issue of how to maintain the Irish banking system and restore confidence in the main financial institutions.