Merkel Bows to Public Discontent Considers Capping Executive Pay

Both the European Union and Switzerland have drawn a line in the sand recently when it comes to excessive compensation packages. Now, Berlin too wants to cap salaries. For Chancellor Merkel, the move marks a U-turn, but with growing public discontent, she had little choice.

In an interview with the newspaper Freie Presse, published on Wednesday, Merkel likewise entered the fray. “Exorbitance cannot be allowed in a free and socially minded society,” she said, adding that she understands “when people shake their heads over salaries that tip the scale and want them to stop.”

via Spiegel

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza