So a Trade Union comes out with a report suggesting that Irish Nationwide, EBS, Permanent TSB and Bank Of Scotland should merge into a new entity to take on AIB and BOI.
Now without discussing the pros and cons of such a move, why on earth would a trade union suggest actively suggest it? A merger of 3-4 institutions would lead to hundreds of job losses. Have they not thought it out properly or am I missing something?
http://www.independent.ie/business/...-would-rival-big-two-says-report-2053027.html
.. Have they not thought it out properly or am I missing something?
This merger is old news to be honest with BOS being the new entrant into the merger.
I know but it's the first time I have ever heard a trade union come out in favour of a merger that is bound to lead to massive job losses.
I know. The merger idea is not the story. The story is that it's the first time I have ever heard a trade union come out in favour of a merger that is bound to lead to massive job losses.
if anything, aib and boi should be broken up into many smaller banks.
Not really that strange - if you think about the experience of trades union in the biggest State merger in recent years, the amalgamation of the Health Boards and resultant creation of the HSE, you can see why unions would think that mergers should not lead to job losses - on the contrary, they should lead to massive increases in numbers, with lots and lots of lovely additional layers of bureaucracy, just waiting to be filled with subs-paying union members.
If anything, AIB and BOI should be broken up into many smaller banks.
Spread the risk.
Its easy to believe this is the answer but its not. You are better off having a number of large strong banks and some smaller institutions that are properly managed and regulated than loads of small banks.
So a Trade Union comes out with a report suggesting that Irish Nationwide, EBS, Permanent TSB and Bank Of Scotland should merge into a new entity to take on AIB and BOI.
Now without discussing the pros and cons of such a move, why on earth would a trade union suggest actively suggest it? A merger of 3-4 institutions would lead to hundreds of job losses. Have they not thought it out properly or am I missing something?
http://www.independent.ie/business/...-would-rival-big-two-says-report-2053027.html
Probably a merger would result in a lot less than the 750 job losses announced by the bank pulling out altogether.
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Its unlikely. The same number if not more will go when Irish Nationwide, EBS and TSB merge.
It is a good example though of why we need a strong domestic banking sector.
I know. The merger idea is not the story. The story is that it's the first time I have ever heard a trade union come out in favour of a merger that is bound to lead to massive job losses.
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