Paycuts of between 6 per cent and 10 per cent for staff and executives at the state-guaranteed banks was described by some as "harsh medicine" last week. But a close examination of a report into bankers' pay published last week by Mercer consultants puts the proposed cuts into context.
It had been widely assumed that highly paid, so-called 'fat cat' bankers simply didn't exist any more in the Irish banking landscape. It had also been assumed that...
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