AIB needs to be taught a lesson and Government must be seen to give it

THE Government is finding out that owning just 25% of a major commercial entity confers very little benefit but an awful lot of hassle.

Having suffered from a lack of influence on the business decisions of Aer Lingus in recent years — since selling the balance of shares — the Government is faring no better after its purchase of a similarly sized shareholding in AIB.

The latest controversy at AIB involves its decision to award a 3% pay rise to about 5,000 of its 13,000 workers in the Republic, most of whom are lower paid staff.