November 21 2008
By Alex Elliot
Geir H. Haarde, Icelandic Prime Minister today announced (at a press conference) his intention that all elected officials and judges should take a pay cut. President Olafur Ragnar Grimsson suggested a few weeks ago that he would welcome such a move and that he hoped Haarde would consider it.
The PM made his announcement at a press conference this afternoon, held in conjunction with Ingibjorg Solrun Gisladottir, Foreign Minister and head of the Social Democrats (the other coalition government party with Geir Haarde’s Independence Party).
MBL.is reported that Haarde would not be drawn on numbers, but said it would be in the region of a 5 to 15 percent pay cut.
Ingibjorg Solrun Gisladottir said that now there are very special circumstances in society and that politicians’ pay should reflect that.
MPs’ pension rights will be changed too, if the bill is passed in parliament over the coming weeks. This will mean that funds will not be accessible until the age of 60, rather than the current 55.
Over-wage pension contributions would decrease while the proportion of pension contribution taken out of officials’ wages would increase.
The Prime Minister also said at the press conference that he has discussed with all opposition party leaders the establishment of an investigative panel to carry out a full inquiry into the collapse of the Icelandic banking sector. He said he hopes a bill will be introduced to parliament on the issue in the next few weeks.
I think all the CEO’s in banks should get a pay cut too. They certainly aren’t worth what they are being paid. Boy are they not worth it. They are still messing up in the US. They just can’t get it together.
Seems the bums will knocking at the Door, looking for another handout.
Considering they caused for the most part the Crisis around the world they should all be fired.
They should be booted out of every country they are now in, as well.
Personally I think a bank should be run in their own country and not anyone else’s.
It should be owned and operated only by person from said country and not owned by any one from outside the country either.
That is one of the reasons the US banks infected so many other countries with their, financial crisis.
Now what was it Rothchild once said “Let me control a peoples currency and I care not who makes their laws”