‘Cute hoor’ culture damaging Ireland’s name
Both Fine Gael and Labour promised new laws to improve ethics and corporate governance in politics, financial institutions and public life.
The promises were made as Tánaiste Mary Coughlan once again defended the controversial golden handshake paid to the former Fás boss, Rody Molloy.
The Tánaiste was responding to a report by the State spending watchdog, the Comptroller and Auditor General, which found Mr Molloy’s severance package was €900,000 more than what a comparable public servant would be entitled to on retirement.
“We wanted to move on and make sure we had change implemented in Fás. It was in the best interest of the organisation that Mr Molloy moved on,” said Minister Coughlan.
Speaking to reporters after addressing a conference on corporate governance in Dublin, she said Mr Molloy would have been entitled to an even bigger pay off if he had been sacked rather than if he had handed in his resignation.
At the same conference, organised by the Irish Stock Exchange, Fine Gael enterprise spokesperson Leo Varadkar said the activities of the banks, Government and State agencies has done real damage to Ireland’s reputation overseas.
“This damage comes at a cost. It is harder and more expensive for the Government to borrow money from the international capital markets. It is more difficult for Irish companies to secure credit from the banks, capital from investors and export credit insurance. And it is harder for Irish companies to sell their goods and services overseas.”
Deputy Varadkar said a cultural shift as well as new laws are needed to tackle this. “This change in culture must start at the top. In the political system. For too long, we have been prepared to tolerate the clientelistic politics of the stroke, the cute hoor, the wink and the nod.
“The post-colonial country which was suspicious of authority.”
