FG: Govt must curb senior bankers' wages'

Fine Gael has called on the Minsiter for Finance Brian Lenihan to intervene directly to cut bankers' pay.

It follows a report from the Central Bank suggesting that financial institutions continue to foster risky lending in the way they pay senior executives.

A review of remuneration policies in Irish banks shows that they continue to expose the State to the consequences of inappropriate risk taking, because of the financial incentives they offer employees.

Fine Gael's Deputy Finance spokesman Brian Hayes said the Government "must intervene directly to curb the pay of senior bankers".

"He owns these banks, on our behalf," said Mr Hayes.

"They’re either nationalised or 95% of them have been totally recapitalised by our money

"So this is taxpayers’ money that is continuing to feather the nests of senior bankers in this country.

"He needs to take action now and demand a change, and he shouldn’t wait until the next report from the Central Bank, he should do it today."