Irish govt bans Allied Irish Banks €40m bonuses

Irish finance minister Brian Lenihan said state aid is "conditional on the non-payment of bonuses awarded, no matter when they may have been earned", the Telegraph reports. Allied Irish had argued it was legally required to pay bonuses to bankers for work done during 2008, in the lead-up to the banking crisis. In November, it lost a case brought by a former banker, John Foy, who had sought a bonus of €160,000 based on his 2008 performance. However, Allied reconsidered its position following a letter from the Irish finance minister Brian Lenihan. Lenihan, who is pushing for a 90%...