Some irish economic news..

As the iol report notes

[Irish] Finance Minister Brian Lenihan will summon Irish Nationwide boss Michael Fingleton into his offices this week amid Green Party calls for the banker to resign following revelations of a €1m bonus payment.

See also Irish Times reports. But there are often unintended consequences to legislating issuing populist guidelines in haste – as RTÉ reports

A replacement chief executive for Irish Nationwide Building Society, who had agreed to succeed Michael Fingleton, has told the board he will not now be taking up the position. RTÉ News understands the executive told the society he would not be taking up the appointment because of the Government cap on executive pay at the society.

Key detail from the RTÉ report

A well-placed source at Irish Nationwide said Mr Fingleton had sought to retire at the end of February 2008.

However, the board had asked him to remain for a further year, until a successor was appointed.

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