Market Talk – May 3, 2024
ASIA: The major Asian stock markets had a mixed day today: NIKKEI 225 closed Shanghai closed Hang Seng increased 268.79 points or 1.48% to 18,475.92 ASX 200 increased 42.00 [...]
EU Govt. Pensions Explode to €63.8 billion
I have said that the European crisis is all about keeping jobs in Brussels, and now the truth is beginning to surface. The long-term cost of pensions for EU officials has increased very sharply according to one new report. These people are lining their pockets like never before. From late 2014 to the end of 2015, the liabilities have grown by 8.9% and have reached €63.8 billion euros.
Some of these parliamentary members go and swipe a card to pretend they went to work, for you see, in addition to their annual salary, they get paid €304 euros per day just to show up in addition to a monthly salary of €8.020,53 even if they do never show up to work. There are stories of ministers lining up to swipe their cards to claim the €304 euros for the day and then they leave. Why not? They can neither introduce legislation nor veto it. The whole thing is a sham to make the people think they have a right to vote when there is none.
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