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JUST A DAY after Ireland’s exit from the bailout programme, the European Central Bank’s (ECB) Mario Draghi said the Irish banking system is still a source of “some concern”.
Speaking in the European Parliament today, he said the Irish balance sheet assessment, which is carried out by the Central Bank of Ireland “falls short” of stringent stress testing that he feels is needed.
He added that the exercise was not “forward looking”. Speaking about Ireland he said the programme of implementation is “consistently on track” but said:
The Irish banking sector remains a source of some concern, with outstanding issues still requiring swift and decisive action.The recently submitted results for the Irish specific balance sheet assessment exercise indicated that while no capital shortfalls were identified there is a need for adjustments to provisioning as well as risk weighted assets.
He said this meant that banks will have to set aside capital to pay off any future loans which go bad adding that it should be sorted out before next year when the new Single Supervisory Mechanism’s stress tests are carried out.
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This is the new alternative to trade unions; company models that respect their workers make the need for trade union obsolete.
But it’s not really, is it?
This guy has his exit strategy lined up and nobody expects the takeover company to continue to employ all staff at 70k. I also expect his risk analysis to include projections for an increase in contract staff, and his HR team to be supplied with copies of Mein Kampf.
Dream on buddy
Maybe it is a blocking manoeuvre nobody is going to take your start up away from you if you’ve the highest cost base possible.
I have no strong opinions on this.
@Trea.
Judging by what I see, T/Unions are almost obsolete anyway however many employers are stingy & exploit their employees.
I doubt if this generosity will ever occur in Ireland.
@Sammy very good
Hi, can you forward this article to Dail Eireann please?
Thanks in advance
Stay on topic
I’m pretty sure the minimum wage there is already over $70k
Nowhere near, a person working a 40 hour week on minimum wage in Ireland would earn in the region of €17,000 per year. That’s a massive leap away from $70,000 which is much closer to €55,000.
I re-read your comment and see I was a little off-point but the figures remain very much the same. The minimum wage in the US is $8 an hour which equates to $15,360 per year working a 40 hour week.
I meant the minimum wage in the Dail. Not clear enough obviously.
Great idea. Getting loads of free publicity.
Application form please
Do they need a cabinetmaker???
I need a cabinet maker. where are you based?
Founder and chief exec. Surely still the major shareholder so I’m guessing salary is insignificant in the grand scheme, but nice optics.
Unless there are restraints on naked capitalism, imposed or voluntarily assumed, capitalism eventually becomes unsustainable.
Although we paid the CEO’s of the Banks large fortunes in compensation packages, we got incompetent monkies.
Large salaries are no indicator of talent or ability.
Senior executive salaries are generally gross and disproportionate.
Don’t know why you got red thumbs for that
He used words of more than three syllables which tags him as a commie pinko lesbian lefty in the minds of some who post in the Journal
That much is true Tony.
Sorry @Anthony Lang
Capitalism always works. When you tinker with capitalism, like bailing out the banks, it runs into problems.
This guy is doing the capitalist thing, he’s thinking of new innovative ways to grow his business, attracting hardworking employees.
I really hope it works for him.
It is a fact that there is no correlation between the salary of the CEO and the success of a company
I see it reported in this weeks Kilkenny Reporter newspaper that Ms Siobhan Talbot, Group Managing Director of Glanbia has a remuneration package that increased from €1.02m to €1.62m since she was promoted. It is also reported that the four member executive team share a combined package worth €4.22m I always wonder when I see such figures, where is the evidence of a correlation between super pay packages and performance. It certainly wasn’t evident in banking circles.
Hes also CEO of this company http://www.reynholm.co.uk/index.php
Don’t think he can persuade the CEO of the company I work for to do the same, would be nice though.
It is a wonderful thing for the staff and I wish we could have some thinking like that here.
Anybody got a distribution list for TD’s n Ministers & any ex Taoiseagh & heads of depts & charity organisations. …!!
Whatever about this guy. Any one else remember the lead up to the dotcom bubble bust of the late 90′s.I got deja vu all over again.I remember learning to ‘code’ back in 95. Of course it was just html back them and I already could code C and Basic.I have an odd feeling about all of this.
Tech startups are getting cocky again, then? This has always ended well in the past.
Don’t worry, nobody’s falling for this tech malarkey.
This CEO is making a decision on employee happiness for $70k from a university that pays it’s professors $200K +
Yeah but those guys are really really really happy!!
There must be a snwtch…..sorry catch…..
Guessing by the thumbs down nobody else thinks so.
Really hate yiz all right now . Feckin hoors the lot of yiz !!!!
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