The chief economist with Bank of Ireland has clarified his position following controversy over comments he made on television in relation to the industrial dispute at Irish Ferries.
Dr Dan McLaughlin said he wished to clarify that he appeared on RTÉ's Questions & Answers last Monday in a personal capacity, and that the views he expressed were his own and "not intended to be conveyed as the position of Bank of Ireland".
"The normal convention I adopt . . . is that I clarify at the outset that I am speaking in a personal capacity," he said. "I did not do so on this occasion and I regret any confusion that arose."
Callers to Questions & Answers and to Joe Duffy's Liveline radio programme yesterday expressed anger and disappointment at Dr McLaughlin's comments. There were also suggestions that Bank of Ireland should be boycotted by the public.
Dr McLaughlin had compared the action of Irish Ferries to outsourcing of work carried on in other sectors of the economy, and said that the Irish economy was built on outsourcing.
"This company took a decision that it could no longer compete on the Irish Sea with the wage rates it was paying to its workforce . . . It offered redundancy to those workers . . . You either let the company decide to try to maintain its profits and keep in business . . . or you prevent them from doing that and what happens is the company ultimately goes bust and nobody gets their redundancy anyway," he said.
He also said Irish Ferries was justified in its course of action and argued that the wages being offered to foreign workers by the company were internationally accepted in that industry. He also said that the trade union movement in Ireland was in decline.
A spokeswoman for Bank of Ireland said Dr McLaughlin had taken it upon himself to make the statement, in view of the public reaction to his comments.
