BANKERS' BONUSES, A POSSIBLE SOLUTION ?

Everyone seems to hate a possible solution to the problem of Bankers' "Bonuses" !!!  But what is the problem ? 

It is that Bank directors negotiate employment contracts which are comprised of a basic salary plus a "Bonus" dependent on results !!!  This same technique is true of Directors of other big Companies or Groups !!!

At that point nothing is really illegal, but subsequently there are many diverse objections.  It is then that legislation is envisaged, invoked in fact, to cover the lack of legal means to stop current abuses. 

These negotiated contracts take place without any real  Shareholder agreement. 

There are basic remedies that must be envisaged in any EU or National laws to prevent future abuse.  

a)  The contracts of all Directors must be submitted for Shareholder approval when they are nominated or engaged.

b)  Any exceptional payments to Directors in the form of Bonuses on results (financial or other) should be made payable only five years after the year-end concerned.  (This is to cover the subsequent discovery of "unexpected losses" !)

Obviously such contracts should be filed centrally once signed.  Auditors must be informed of any such contracts shortly after their conclusion.
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EU HAS PROBLEMS, but CONTOLS NOTHING !!!

With a regularity that defies comprehension, the EU regularly faces criticism over laws that have been passed  by it in the past but which have been abused to such an extent that a crisis point has been reached.

Examples of EU laws passed and which are never "professionally" audited are Illegal Immigrants, internal EU Turnover Tax (sales tax, added value tax, etc), Customs Tax on Imports into the EU from Asia and elsewhere, etc; etc .

Passing laws has become an EU "Sport" !!!  Politicians are seen to act !  Bravo, but they are nowhere to be seen when scandales erupt !!!  No one wants to be involved, not even the President of the EU Commission, Mr. Manual Barroso !!! 

As for updating long standing "treaties" like the Human Rights act or the EU Treaties that bind all the EU countries, or the limitation of Duties of the European Court of Justice, those considerations are well beyond the horizons of the mortals now governing the EU !!!

The EUROZONE has created its own problems, but EU problems must be tacled.  David Cameron is the fly in the ointment at present !!!  He wants changes because he does not want Britain and other EU countries either,  to pay for unaudited and unjustified expenses in the EU !!!  The current situation just cannot go on !!! 
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CLEGG IS ¨PILLORIED but CAMERON JUST WATCHES !!!

In Britain, Nick Clegg, leader of the Liberal Democrats, has not been a comfortable sleeping partner in the Coalition with the Conservatives !

He has never missed an opportunity to criticise what David Cameron is trying to do at Home or in Europe.

Now Clegg finds himself in the middle of "Problems" concerning unspecified sexual allegations concerning a leading member of his Party Heirarchy. 

Clegg denies knowing anything specific about these matters.  Today no one knows how things will finally pan out !!!

There is only one guide of how to judge situations like this.  Normally, the first reaction is "I knew nothing".  When subsequent questions must be and are answered, the real picture becomes clearer !!! Journalists are in fact paid to report the real facts.

Historically, hiding the truth is a dangerous policy.  There are countless examples worldwide of what happens when finally the real truth emerges !!!

All politicians everywhere should heed this fact !!!  Hiding the truth, gagging the press or Judges, is not an option !!!
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FRANCOIS HOLLANDE, LE PRESIDENT BLAGUEUR

Commentant la renonciation de Benoit XVI, FRANCOIS HOLLANDE avait déclaré la semaine passée:  "Pour succéder au Pape, la France ne présentera pas de candidat".  Indignation immédiate à droite qui a vu là désinvolture et irrespect.

Hier au Salon de l'Agriculture, à une enfant qui l'interrogeait sur Nicolas Sarkozy, François Hollande a  répondu "tu ne le verras plus!"   Dérapage, petitesse, s'est on aussitôt offusqué à droite.  Les français ont élu un Président et non un chansonnier, a-t-on entendu.

L'humour serait il devenu seulement l'apanage de la gauche et la droite, ronchonne, en serait elle dénuée?

DML

EU HORSEMEAT PROBLEMS

Panic has set in this week after the revelation that certain well known products, widely sold throughout Europe, contained not only beef but also horsemeat !!! 

Large Companies and Groups, either of National or Multi-national dimensions, "suddenly" tested products they produced or simply re-sold.  The results have sometimes been astounding !!!  "Suddenly" certain goods have been withdrawn from sales counters !!!  

Suddenly, also, other Commissions have been set up to make investigations. 

This in fact reveals the lack of "Diligent Management" or "prudent controls" which should have been in place beforehand. Originally, was this not really a policy to cut costs and maintain profit margins ? Now top Directors and Managers are engaged in a face-saving exercicse, but  must they not be made to account or to explain ? 

Shoppers, as far as they can, control what they buy. They are entitled to expect a clear and informative description of what they buy, not only concerning meat products but other products.  

Alas shoppers pay for misdescribed goods and small print conditions, but they are never compensated, even when Companies or Directors are prosecuted and found guilty.  Nor are Directors obliged to renounce their "Super Bonuses" of previous years !!!
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FRENCH MOTORISTS ARE CONDEMNED, but... !!!

The Motor Industry in France is facing a crisis point.  Statistics reveal that the production of cars in France is falling because sales inside France are falling;  abroad the sales of "cars produced in France" are also falling.

For the last "ten" years the Governments in France have not realistically addressed this problem !!!

The cost of maintaining a car on the road in France has increased with relentless fervour. Beyond normal insurance and maintenance costs there are also other costs which motorists cannot control.

Prime examples are;

    -  Parking costs at key points in Town Centres, at Airports and Railway stations, etc.

    -  The general absence of any free parking areas

    -  The relentless increase of tariffs on Motorways

    -  The high "taxes" on Petrol for cars and lorries. 

Added to the above problems is traffic congestion in large towns, particularly in Paris, where Public Transport and Taxis benefit from reserved traffic lanes. 

The latest solution is to introduce electric cars for hire in Paris to encourage the production and sale of such cars.    Not a bad idea except that this will probably encourage Parisiens to sell or abandon their petrol driven cars. 

They have become an expensive burden in Paris rather than a real help or pleasure !!!  Short term Hire Car costs would seem to be a better solution for the motorist, but this will not cover the lost production of cars in France. 

When finally the motorist provides less income for the Government the next question really becomes "how will politicians then react" ?
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BERLUSCONI ON THE CAMPAIGN TRAIL !!!

If one has to describe the aims of the Berlusconi election Campaign, it is to promise everything tomorrow, after his election !!!

Berlusconi promises tax reductions but without recognising the plight of Italy today. He is in fact a showman without any solid political promises !!!  

To say that EU leaders do not like "Il Cavaliero" is an understatement !!!  The "Bunga Bunga" showman is considered as being an incuriable optimist who protects only his personal interests.

His main oponent in the election is Mario Monti who was brought in to reorganise the frail economy of Italy, which like other countries is in recession.  It is easy to criticise a technocrat who is obliged to make decisions which are necessary but not popular. 

Roman Catholic Italy may, in the end, condemn Berlusconi to oblivion for his "Bunga Bunga" parties.  Is he, after all, at the age of 76, not too old to change and to revise his political orientations ?

The Elections in Italy take place at the end of this week, i.e. Sunday 24 February 2013.
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