Jobs in Ireland (Rep) in the banks.

Job losses are horrendous in the banks. We will be worse off if there are only two partly effective banks in this jurisdiction. It is better for the state to own the banks and work to preserve jobs. The banks are inherently profitable if half-properly managed. The public will not lose money in investing in AIB and BoI in the long term. The boards of directors in all the publicly funded banks must be totally renewed. The propaganda that the sky will fall in if AIB falls under state control is outrageous. The public have bailed out you people and are entitled to a little respect. I reckon that the average member of the parks department of Dublin City Council would not spend €22 billion on Anglo Irish Bank. What was wrong with letting the banks go into receivership and the state buying the trading arms.  Let the receiver get rid of the loan guarantees in the market which will be tough on the shareholders and the bondholders. More again.

In February 2010, Halifax/Bank of Scotland Ireland was closed : – 750 jobs National Irish bank to close 25 of its 58 branches EBS – job cuts Irish Nationwide – job cuts AIB maybe – 2,000 on top of a previous 2,000 by natural wastage and non-renewal of temporary contracts

Total – about 6,000

AIB will be publicly owned by the end of the year. I have written this often on this site..