Banking scandals story goes back a long way
Many will remember that strike as an action for higher pay, but it was about much more.
Despite the heavy criticism of the public, the media, the shareholders and a very few senior colleagues, the officials held out against what were considered generous terms for a return to work.
The ongoing resistance was caused by the major banks wanting to introduce new work practices and guidelines.
The Bank of Ireland was introducing a little red book to motivate their workforce. Bright new senior executives were brought in from the outside world to maximise profitability. ‘Incentives’ was the new buzzword.
Despite the forebodings of the Irish Bank Officials Association (IBOA) national executive a further increased offer brought an end to the strike and Ireland was introduced to a new banking ethos.
The dye was cast.
A despairing flutter of resistance was attempted in 1976 and then the collective heart went out of Irish banking. The day incentives were introduced into the industry, integrity walked out the door.
CR Boland,
Orchard Field,
Dunmore East,
Co Waterford.
