Blame Government for lack of job cuts, unions tell troika

Bank unions are to write to the troika to tell them that the delay in shedding thousands of jobs in the sector is the fault of the Government and not staff, trade unions or the financial institutions.

It was reported yesterday that the EU/ECB/IMF troika had expressed its frustration to the Government that large salaries were still being paid to bank workers who should have been made redundant by now.

In response, the Department of Finance said it was working with the banks “as they design systems that are appropriate for the banks themselves and the industry as a whole, as well as fair to the taxpayer which has provided support to the banks through committed capital investment of €64 billion”.