I found this a bit mad!
Essentially, the main banks have been lobbying the Gov to get An Post to reduce the attractive interest rates they offer because they are unable to offer similar.
Banks lobby for An Post to cut deposit rate | Irish Examiner
I work in Telecommunications and the only way that I could compare this would be if my employer approached the regulator and asked that they force another operator to stop giving free internet/ data because we are unable to compete with that.
The regulator would tell them where to go very quickly!
I despair and hope that at times like these, that we are protected by some EU rules or something!
I should state for transparency, my wife and I have some savings with An Post (And Ulster Bank)