Are there really over 1000 employed at the Central Bank?

ashleey

http://www.rte.ie/news/2009/1127/partnership.html

What the hell do they do?

Notwithstanding their failures of market regulation, how on Earth is there enough work for them given that they are just a small regional branch of the ECB?

Am I being unfair?

ei.sdraob

ashleey wrote: »

http://www.rte.ie/news/2009/1127/partnership.html

What the hell do they do?

Notwithstanding their failures of market regulation, how on Earth is there enough work for them given that they are just a small regional branch of the ECB?

Am I being unfair?

Thats shocking

in light of Anglo scandals what are these people doing?

tho suppose the Central bank produces a "fine" bunch of "eCONomists" like DMcW

Idbatterim

what are these 1000 doing that 100 or 200 cant?

sk8board

as if that wasn't bad enough, the strike today is because any newly promoted employee must sign a new contract.

that new contract has 2 less flexi-leave days (!) and requires them to work a 35 hour week

currently they work a 32.5 hour week.


I didn't notice any 'No to a 35 hour week' placards today; did you?

ei.sdraob

sk8board wrote: »

that new contract has 2 less flexi-leave days (!) and requires them to work a 35 hour week

currently they work a 32.5 hour week.
?

oh the horror of it


anyways back to work for rest of us *yes i know its friday

Idbatterim

a 35 hour working week? what a joke! and 2 days less flexi leave! my heart bleeds! If they dont want the jobs, there are thousands that do! who gives a toss about them?

ashleey

ei.sdraob wrote: »

oh the horror of it


anyways back to work for rest of us *yes i know its friday

I'm just worried that the whole country will collapse now that these essential frontline workers are currently waving placards as opposed to managing the financial system with vigour.

sk8board

personally, my problem is that the public protrayal of this strike by the workers and their union rep's has been completed detatched from the facts of what they are trying to achieve, or prevent.

thats 6.5 hours per day for anyone thats wondering what a 32.5 hour day actually is!

or 9 - 4pm with 30min lunch.

and with teh flexi entitlements that must bring annual leave to easily over 30 days per year with by doing a few extra hours per week.

MysticalRain

Quite surprising for a country that doesn't even have full control over its own monetary policy. I worked for the New Zealand central bank a few years ago and we had 350 employees. That's a country with a similar population to Ireland. If I recall correctly, the Bank of England has around 1500 employees. I worked a full 40 hour week as well.

waffleman

Idbatterim wrote: »

what are these 1000 doing that 100 or 200 cant?

Thats not all the people who work in the CB. I have a friend who works there. The place is stuffed with external contractors who arnet striking (people paid 500 euro a day to be there "just in case" sh!t goes wrong). They get paid a regular wage but the bank still pays twice that to the contracting company. But who cares - it's only public money after all...

Mitten29

********

ashleey

Could you give us a quick run down of where they make their profits? The BoE runs and trades govt. bonds. The NTMA does that here. Regulator fees go to IFSRA. Just curious

Mitten29

8888888888888888

viking

waffleman wrote: »

But who cares - it's only public money after all...

Arent they self funded? Or more accurately arent they funded through levies on banks? Dont think public money is involved... open to correction on that

ashleey

viking wrote: »

Arent they self funded? Or more accurately arent they funded through levies on banks? Dont think public money is involved... open to correction on that

In levies on the banks and bond trading. Either it's one of the most profitable fixed income hedge funds in the world or the banking sector in Ireland is one of the most heavily levied in the world. Something doesn't add up but I'm sure it does as there are 1000 of them with desk calculators and sharp pencils.

Sand

I am actually glad to see these strikes - they only serve to invite the contempt of the .5 million unemployed and whatever few PAYE slaves in the private sector are toiling to keep this corrupt aristocracy in the style to which they have been accustomed to.

I really, really hope the public sector trade unions make a huge fight out of this. I hope they listen to the crazed bearded wing of their organisations. I really do. Because the power of the "social partners" needs to be broken. Utterly broken. And given the inevitable nature of the fiscal cuts to come ( a 26 billion deficit is not a "blip" ) the harder they throw themselves against it, the greater their inevitable defeat will be.

Player_86

I was looking at the prospectus for the Graduate Programme in the Central Bank there a month or so ago. In the section entitled Benefits, there were all the usual suspects e.g. competitive salary, travel to work scheme etc...

And there was also a defined benefit pension.

These things have to change.

starbelgrade

I always wondered why the Central Bank building was so big - I used to think that it was full with useful stuff, like gold bars & wads of cash.

Sleipnir

I know a guy who works in the Central Bank. Was laughing last January when he got a 10% pay-rise!

DERICKOO

Sand wrote: »

I am actually glad to see these strikes - they only serve to invite the contempt of the .5 million unemployed and whatever few PAYE slaves in the private sector are toiling to keep this corrupt aristocracy in the style to which they have been accustomed to.

I really, really hope the public sector trade unions make a huge fight out of this. I hope they listen to the crazed bearded wing of their organisations. I really do. Because the power of the "social partners" needs to be broken. Utterly broken. And given the inevitable nature of the fiscal cuts to come ( a 26 billion deficit is not a "blip" ) the harder they throw themselves against it, the greater their inevitable defeat will be.

http://www.timesonline.co.uk/tol/news/world/ireland/article4968594.ece

a shower of hasbeens i have it and i'm not given it up no matter what.
true to form they are showing the country the true facts.

gandalf

WTF 1000 Employees we don't even have our own currency anymore. What do these guys do???

Absurdum

www.centralbank.ie would be a good place to start :rolleyes:

whatnext

THE BOARD OF DIRECTORS
PATRICK HONOHAN, Governor TONY GRIMES, Director General
DAVID BEGG GERARD DANAHER DAVID DOYLE
JOHN DUNNE JIM FARRELL ALAN GRAY
DR. BRIAN HILLERY MARY O'DEA DEIRDRE PURCELL
DERMOT O'BRIEN
BRIAN HALPIN, Secretary

Are these idiots every where? How can the unions pontificate about the banks and still hold this posts like these

gandalf

Absurdum wrote: »

www.centralbank.ie would be a good place to start :rolleyes:

You know what I mean, wtf do they need 1000 employees for? As someone said earlier the Bank of England have 1500 and they have their own currency which is one the main trading currencies in the world.

So less of the rolleyes please. Justify why we need 1000 employees in the Central Bank.

nesf

gandalf wrote: »

You know what I mean, wtf do they need 1000 employees for? As someone said earlier the Bank of England have 1500 and they have their own currency which is one the main trading currencies in the world.

So less of the rolleyes please. Justify why we need 1000 employees in the Central Bank.

The individual national central banks still do a lot of work under the ECB. Just because we don't have our own currency anymore doesn't mean that the work involved has disappeared. The CB still manufactures and distributes banknotes and coins etc.

ashleey

nesf wrote: »

The individual national central banks still do a lot of work under the ECB. Just because we don't have our own currency anymore doesn't mean that the work involved has disappeared. The CB still manufactures and distributes banknotes and coins etc.

I thought the commercial banks distributed the notes? I know that most of the 1000 aren't twiddling their thumbs but seriously what do they do all day?

nesf

ashleey wrote: »

I thought the commercial banks distributed the notes? I know that most of the 1000 aren't twiddling their thumbs but seriously what do they do all day?

There's more than one stage in distribution most likely.

ashleey

So that's 50 managers and 950 lorry drivers then. I had a look at their website and to be fair I think the staff are those of the regulator also.

nesf

On a side point the UK comparison isn't a good one as the UK split the old Central bank into 3 (I think) separate entities in the 90s whereas we'd still count financial regulation as being a part of the "central bank" (Central Bank and Financial Services Authority of Ireland (CBFSAI)).

Make sure you're comparing like with like when it comes to staffing numbers.

ashleey

You are right but then we move on to the question of wether or not they were actually doing the job they were supposed to be doing? Seeing as there are so many of them.

timo87

Their taking on staff too; http://www.financialregulator.ie/careers/Pages/FinancialRegulatorCareersPage.aspx

I,ve applied to them, but Ive received an offer from elsewhere in the meantime so don't know would I go with them.

I don't know if having done a stint with the Irish Financial regulator would look too good on C.V :rolleyes: