March 6, 2013
Europe's Misdirected Anger over Executive Pay
Clive Crook, Bloomberg
Anger in Europe over executive pay is finding its way into legislation. The European Parliament, backed by almost all of the European Union’s finance ministers, plans to cap bankers’ bonuses, and 68 percent of Swiss voters endorsed a referendum initiative to ban “golden parachutes” and put other curbs on bosses’ pay. Agitated voters, grandstanding politicians and intelligent policy rarely go together, and this is a case in point.
TAGGED: Europe, Eurozone, UK, European Union