Irish bankers may take legal action over bonus move

The Irish Bank Officials Association (IBOA), which represents the majority of bank staff in Ireland, is taking legal advice over a government move that prevented bonus payouts to staff. Late last year finance minister Brian Lenihan prevented the now majority state-owned AIB bank from paying out €35 million in bonus payments. He also promised to introduce a 90 per cent tax on all future bonuses for bank executives in the finance bill, which will go before the Dail next month.