• Germany's news in English
 
Hundreds of great job opportunities for foreign professionals at Germany's top employers - in cooperation with Monster, Experteer, Stepstone, and CareerBuilder.
What
Where
1,420
jobs available
Find English-speaking professionals with The Local.
Advertise a vacancy
Merkel: fat cat packages must slim down
Photo: DPA

Merkel: fat cat packages must slim down

Published: 13 Mar 2013 10:49 CET

She could "well understand if people can only shake their heads at some pay packages which are completely out of proportion - and want that it stops," Merkel told the Chemnitz-based Freie Presse newspaper.

"Excess cannot be [tolerated] in a free and socially-responsible society," she said.

And, sounding more like a left-wing Social Democrat than a conservative in a coalition with the business-friendly Free Democratic Party, Merkel added she thought it was "very good" that the European Union was looking for ways to increase controls over manager remuneration.

The EU is working on proposals to enable shareholder meetings as well as supervisory boards to have a statutory say in managers' pay packages.

This comes after the success of a popular initiative in Switzerland to introduce this tool to control excessive manager pay, which also prompted demands in Germany for a similar move.

"Sadly it has been shown that it is not enough to leave the matter to self-regulation of business alone," Merkel told the Freie Presse. "Even though we here in Germany have a somewhat different situation due to the influence of workers [who have seats in supervisory boards], I am in favour of the topic being tackled on a European basis."

The idea of a minimum wage was not as simple as setting a figure, she said, rejecting the €8.50 an hour across-the-board demand of the opposition Social Democratic Party.

She said people understood that such a unitary figure would not take account of differences between industries and regions.

The Local/hc

The Local (news@thelocal.de)


Your comments about this article:

The comments below have not been moderated in advance and are not produced by The Local unless clearly stated. Readers are responsible for the content of their own comments. Comments that breach our terms and conditions will be removed.

ADD YOUR COMMENT   (YOU MUST LOG IN OR REGISTER TO MAKE A COMMENT)
Your German Career
What do German bosses need to do to get more out of their staff? Frankfurt-based business consultant Justin Bariso has this advice.
Germany's Federal Employment Agency has identified the job sectors the country is most short of workers for. JobTalk looks at where the vacancies lie.
Students at German universities have shown themselves to be a risk-free lot in a survey by Ernst & Young. The civil service is their most popular choice of future profession, while job security is valued above all else.
Jenny Core, originally from Bolton, England, shares her tips in this week’s My German Career on being an artist in Berlin. The 27-year-old exhibits her work regularly in the city, including next to a Turner Prize shortlister.
In this week's JobTalk, Tanya Schober, who is originally from India, talks us through her journey to German citizenship.
In this week's My German Career, Anupama Gopalakrishna, who is originally from Bangalore in India, tells The Local about her new life in Frankfurt.
German Employment News
In our ongoing weekly series, The Local looks into a successful entrepreneur's life - the story behind his successes, major challenges and how being an entrepreneur changed him forever. This week, Sparsh Sharma talks to Malte Zeeck, founder and co-CEO of Munich-based InterNations, a social network for expatriates worldwide.
In our weekly feature series, The Local looks into a successful entrepreneur's life - the story behind their successes, major challenges and how being an entrepreneur changed them forever. This week, Sparsh Sharma talks to Robin Eric Haak, founder and COO of Berlin-based Jobspotting.
The German labour market continued to shine in December, shrugging off current economic weakness, with unemployment now at its lowest level since unification, official data showed on Wednesday.
In our weekly feature series, The Local looks into a successful entrepreneur's life - the story behind their successes, major challenges and how being an entrepreneur changed them forever. This week, Sparsh Sharma talks to Bertram Meyer, one of the four German co-founders of Taulia.
In our weekly feature series, The Local chats with a successful entrepreneur. This week, Sparsh Sharma talks to Simon Schneider, CEO and co-founder of networking tool Zyncd.
In our ongoing feature series, The Local looks into a successful entrepreneur's life - the story behind their successes, major challenges and how being an entrepreneur changed them forever. This week, Sparsh Sharma talks to Mario Paladini, founder of Club GLOBALS, a 'community marketplace' for expats.
the-local-logo.jpg

Assistant Editor
The Local is seeking a journalist with knowledge of German and Spanish
FULL JOB AD »

autobutler.png

Account Manager
We offer a unique opportunity to make a real impact on autobutler.co.uk
FULL JOB AD »

Bavaria
Careerbuilder
Added 01/25/15

North Rhine-Westphalia
Careerbuilder
Added 01/25/15

Baden-Württemberg
Careerbuilder
Added 01/24/15

Baden-Württemberg
Careerbuilder
Added 01/24/15

Bavaria
Careerbuilder
Added 01/24/15

Lower Saxony
Careerbuilder
Added 01/24/15

Bavaria
Careerbuilder
Added 01/24/15

North Rhine-Westphalia
Careerbuilder
Added 01/24/15