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Another EU landgrab in the offing?

I can't say I was familiar with Joaquin Almunia, the Commissar for Economic and Monetary Affairs. However, the Spanish Socialist is far from shy when it comes to expressing opinions on matters wholly outside his purview.

He does not like some executive pay awards, as reported by the FAZ: "In my opinion some salaries are completely irresponsible".

The man has form as a leftie, including a stint as director of the research program on 'Equality and redistribution of income'. I think it as well to concentrate on baking the cake before worrying about who gets the biggest slice. Naturally, he has never worked in the wealth producing sector .

While it is dispiriting that the Economic Commissar thinks this way, consider also Jean-Claude Juncker, head of the Eurozone Finance Ministers group, and the head of what counts as the right wing party in Luxembourg:

"On May 14...[he] said his colleagues were considering ways to clamp down on “scandalous” pay packages for senior executives. Terming huge compensation schemes “quite scandalous” and a “social scourge,” Juncker said finance ministers were in particular looking to plug loopholes that allowed tax deductions on generous severance packages in many countries".

Good grief. If Luxembourg Christian Democrats do envy politics and fancy a maximum wage, I fear to think what their socialists are like.

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Blogger Blue Eyes said... 4:39 pm

Merkel and Brown could well form an evil axis on this!  



Anonymous nomad said... 5:59 am

But he is of course omitting EU Commissioner perks, allowances and salaries from all this?

PS: I do hope the Gunners' keeper is not his son!  



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