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Mon 02 Feb 2009Lenihan links €7bn funding to pay cut for bank chiefs
THE GOVERNMENT will seek a substantial reduction in bank executives’ pay, more credit for businesses, and a stay on home repossessions, before it consents to the €7 billion recapitalisation of AIB and Bank of Ireland, Minister for Finance Brian Lenihan has said.
Mr Lenihan said there was still much “tough talking” to be done before the Government was willing to sign off on the plan.
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