Irish Government Balks at €2 Million Salary
The Irish government want pay cuts for bank executives, along with more credit for businesses and a stay on home repossessions before they agree to the €7bn re-capitalisation of the Allied Irish Bank and the Bank of Ireland according to the Minister for Finance, Brian Lenihan.
Lenihan admits that there is still a lot of negotiation to get through before a deal could be accomplished. A decision is due to be made tomorrow but it now looks like being Wednesday or later before any announcement is made.
Enda Kenny, leader of the Fine Gael party, said yesterday that he will be writing to Taoiseach Brian Cowen, requesting an urgent meeting so that he can look over the books of both banks before deciding whether his party should back the deal or not. He has also looked for meetings with the governor of the Central Bank and the Financial Regulator.
The pay of the high-ranking executives is a topic that has angered and frustrated much of the public. One thing that they most definitely do not want is for their taxes to end up going straight into the banker’s pockets.
According to the Irish Times, the Minister for Social and Family Affairs, Mary Hanafin has said that some of the bonuses received are “absolutely outrageous...I read of one chief executive who got €2 million in one year that is an outrageous amount of money for anyone to earn in this country.”
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The Oxfam report prompted Anand Giridharadas to tweet: "Don't be Pinkered into everything's-getting-better complacency."
- A new report by Oxfam argues that wealth inequality is causing poverty and misery around the world.
- In the last year, the world's billionaires saw their wealth increase by 12%, while the poorest 3.8 billion people on the planet lost 11% of their wealth.
- The report prompted Anand Giridharadas to tweet: "Don't be Pinkered into everything's-getting-better complacency." We explain what Steven Pinker's got to do with it.
Moans, groans, and gripes release stress hormones in the brain.
Could you give up complaining for a whole month? That's the crux of this interesting piece by Jessica Hullinger over at Fast Company. Hullinger explores the reasons why humans are so predisposed to griping and why, despite these predispositions, we should all try to complain less. As for no complaining for a month, that was the goal for people enrolled in the Complaint Restraint project.
Participants sought to go the entirety of February without so much as a moan, groan, or bellyache.
- Facebook and Google began as companies with supposedly noble purposes.
- Creating a more connected world and indexing the world's information: what could be better than that?
- But pressure to return value to shareholders came at the expense of their own users.
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