THIS WEEK:IT WILL BE interesting to see whether the troika decides to brave the ire of Vincent Browne again by holding a press conference this week to wrap up their latest bailout inspection.
At the January review, the IMF-EU- ECB officials were harangued by a riled Browne, who referred to them scathingly as “you people”.
There has been speculation that the troika will slip away quietly into the night with little more than a farewell statement, rather than putting themselves in the firing line by holding the usual formal press conference. The theory goes that the officials don’t want to be drawn into commenting on the fiscal treaty referendum, but perhaps they are also keen to avoid the wrath of Browne et al.
After the last review, it emerged that Klaus Masuch would step down as head of the ECB’s Ireland team from May, in order to focus on Greece.
Was it a coincidence that this announcement came after he bore the brunt of Browne’s fury in January (a run-in that became a YouTube hit) and was also inundated with emails from angry citizens thanks to a campaign organised by Ray Darcy? If there is a press conference, make sure to tune in and bring the popcorn for the second and final round of Masuch v Browne.
It’s all go for the Minister: morning, Noonan and night
MINISTER FOR Finance Michael Noonan had better have his porridge this week, as his diary is already chock full of engagements. Not only does he have to deal with Ajai “the Chopper” Chopra co while they finish up their bailout review but he’s also pencilled in for speeches at pretty much every financial shindig over the coming days.
On Thursday, he’s off to the salubrious surrounds of Ballsbridge to address the insurance industry at a New Ireland event in the Four Seasons at 8am. Later that day, it is likely he will also have to squeeze in a Department of Finance press conference on the outcome of the troika review.
And in case anyone thinks our Ministers don’t know the meaning of hard work, it’s another early start on Saturday morning to give the opening address at the Irish League of Credit Unions agm.
Probably the most important conference he’ll be addressing this week though is Friday’s Central Bank event on financial regulation.
The conference’s impressive line-up of speakers and panellists also includes the Central Bank’s deputy governor Matthew Elderfield and the chairman of the UK’s Financial Services Authority Lord Adair Turner. The main aim of the conference is to examine the impact of regulation on financial services, with a focus on improving consumer protection.
Hostilities to resume in court
THE ANNUAL spleen-venting fest that is Bank of Ireland’s rather pompously named Annual General Court promises to be the most colourful corporate event this week.
Tomorrow at 9.30am, shareholders will get their once-a-year chance to question the bank’s management about strategy, hold them to account for their decisions, accuse them of robbing the elderly, and (on at least one past occasion) take pot-shots at them with eggs.
Of course the question on everyone’s lips is whether serial egg-firer and shareholder Gary Keogh will manage to get into tomorrow’s meeting.
Last year Mr Keogh was escorted from the premises after pelting six-week-old eggs at the bank’s chairman and chief executive.
(He took similar action at AIB’s agm in 2009).
Even though he missed his targets, the shareholder said it had helped to bring his blood pressure down.
If last year’s meeting is anything to go by, more than a thousand angry shareholders will crowd into the O’Reilly Hall in UCD for the meeting.
Presumably the bank’s executives will adopt their usual method of dealing with the inevitable shareholder hostility, which is to try to bore them into submission.
