Irish Banker Bonus Ban May Be Revisited Later, Irish PM Says

(Bloomberg) -- Irish Prime Minister Leo Varadkar said he may be open to revisiting a ban on bankers’ bonuses at “a later stage,” though has no plans to do so right now.

Instead, the country is focused “solely” on re-privatizing banks still in state hands, Varadkar said in a Bloomberg Television interview at Davos on Thursday.

The government caps salary for heads of Irish banks bailed out during the financial crisis at 500,000 euros per annum with no bonus. AIB Group, which is 71 percent owned by the state, has warned that pay restrictions may make it harder for it to retain senior staff.

Varadkar also said he expects Ireland to start collecting tax arrears from Apple Inc. in the second quarter, more than a year behind schedule. The EU is suing Ireland for not collecting the estimated 13 billion euros Apple owes in back taxes quickly enough but Varadkar played down the legal action.

“I don’t think it will be necessary precisely because we’re in the process of setting up the escrow account,” he said. “We’ve broad agreement with Apple on how it will operate and we expect to start receiving money into this account with in months.”

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