The Irish governments junior coalition partner called on Saturday for the chief executive of Irish Nation-wide Building Society to resign despite his decision to return a 1 million euro ($1.34 million) bonus. Michael Fingletons pay package has caused controversy in Ireland where the government has called for a cap on senior banking executives salaries and a ban on bonuses after the state stepped in to shore up the industry last year.
Fingleton said late on Friday he was fully entitled to his bonus but he would hand it back to end a "24-hour media siege" on his home and out of concern for the impact on the building society from the media attention. The Green Party, junior member of Prime Minister Brian Cowens government coalition, said in a statement Fingletons gesture was insufficient and he should step down.
"Mr Fingleton needs to go now, in advance of the report to be submitted to the Minister for Finance by the state appointed directors of Irish Nation-wide," Green Party Chairman Dan Boyle, who is a member of the upper house of parliament, said in the statement. A spokesman for Irish Nation-wide declined to comment on the Green Party statement.
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