Posts by tag: Papademos

Archives November 23, 2011 posted by

British firms warned over ‘corrosive’ executives' pay

EXECUTIVE pay needs to be radically simplified and companies should include workers on remuneration committees to end runaway awards that are “corrosive” to Britain’s economy, the independent High Pay Commission said yesterday.

Its full list of 12 proposals on overhauling executive pay are likely to inform government action and debate among companies, amid growing public anger about pay increases for bosses that have far outstripped average wages.

The HPC’s year-long inquiry found pay for some top executive roles has risen more than forty fold in the past 30 years, while average wages are just three times higher.

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Archives November 10, 2011 posted by

Cyprus could face EU fines for failing to tackle deficits

Cyprus could face EU fines for failing to meet its shared commitments on debt and deficit ceilings after being singled out by EU Commissioner Olli Rehn during an EU financial forecast presentation today.

Rehn said Cyprus – along with Malta, Belgium, Hungary and Poland – has failed to tackle its excessive deficits and would be receiving stern letters from Brussels in the coming days.

“I have already given an early warning to the ministers of these countries during the last Ecofin Council (held on Tuesday) and will be sending letters with our requests to these specific member states,” Rehn said.

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