Since Josef Ackermann, chairman of the Deutsche Bank's board, announced, on October 16, 2008, that he agreed to give up his bonus this year - a few million Euro - because of the financial crisis, the controversy on the basic fees, deemed outrageous, of companies' leaders, has resumed with even greater intensity. The Grand Coalition planned ahead and limited to 500.000 euro the annual income of the managers of large financial businesses which appeal to the State to bail out. (Ref. 080811)
A few days before the adoption, on October 17, of a rescue plan for banks of a historical scale (€480 billion) by an overwhelming majority of MPs in the Bundestag and all the Lander’s representatives at the Bundesrat, Peer Steinbrück, SPD Finance Minister, laid his cards on the table by warning that there would be no public aid without something in return. He said: “We totally agree on the need to define conditions which must also concern managers’ incomes, bonuses and severance pay (…). These
…Do you have information to share with us?