Ireland Needs to Address Banks’ Crisis-Era Scars, IMF Says
- Fund says Ireland should recognize banks need to keep talent
- Banker pay still capped at nation’s main retail lenders
A Bank of Ireland Plc bank branch in Dublin, Ireland.
Photographer: Aidan Crawley/BloombergThis article is for subscribers only.
Ireland’s banking sector needs to be allowed to move on from the financial crisis in order to retain staff, the IMF said, as the debate over caps on bankers’ pay intensifies.
“It is important to resolve lingering issues” from the global financial crisis which include “recognizing banks’ need to retain talent, and noting the importance of divesting government ownership,” the IMF said in its latest Article IV assessment of Ireland. Addressing those issues would help “spur efficiency and innovation,” it added.