Allied Irish Banks has backed down on plans to pay out €40m in bonuses following a government warning that it would not provide billions of euro in funding to the bank if it did so. Irish Finance Minister Brian Lenihan told the bank that the non-payment of bonuses is a condition of state assistance for the institution. The bank, which is being kept alive with the support of billions of euro from the taxpayer, was planning to hand over €40m in bonuses to 2400 senior banking
