The French government this week announced plans to cap the salary of public sector chief executives at 450,000 euros per year. The decree, which will be released by the end of July assuming the socialists win a majority in the parliamentary election run-offs on Sunday, is designed to limit the accumulation of incomes, including fixed … Continue reading
Gruel for the masses, cream for the lucky few. A familiar tale. Inequality of wealth, and the greed and excess of France’s 1% was a significant theme in the French Presidential election. The highest paid executives of the top 40 listed companies in France had been provided with a slap up 39 million-euro meal for … Continue reading
Public sector managers have become, like other elements of Italy’s political-bureaucratic ‘casta’, a target of public anger at a time when jobs are being slashed, wages frozen and living costs soaring. Take Antonio Manganelli, head of the police, on Euros 621,000 a year, compared to an average income in the country of Euros 1,286. … Continue reading