Good Morning, I hope you slept well (and long because I’m late again ;) ).
Government: You’re doing it right:
The Swiss are governing today and how. One reason for my being late here is the coverage of the latest polls on tv. Three major propositions have been voted on today and a number of regional ones. One was to amend the constitution to protect families’ rights to reconcile having a job and raising kids. It is a draw, more or less. While big cities have voted for it in big numbers and the overall popular vote is for it, the cantons are divided and as it is a constitutional amendment, it needs a majority of both popular votes and cantons. The more rural areas are, predictably against it, kicking women in the teeth once again. (Sound familiar?)
Second vote is on getting land out of the building code, so the environment can be protected from uncontrolled and uncontrolleable building for profit. It got a majority. Easily, too.
The third and most internationally acclaimed vote is on the so-called “fat-cat” initiative. A whopping 68% of voters have voted for it. This after the initiative has been blocked and fought against for seven years.
Under the proposal, shareholders will be given the right to hold a binding vote on executive remuneration. Companies would also no longer be able to pay so-called “golden hellos” and “golden parachutes”, whereby senior managers receive a one-time cash lump sum, often running into millions of pounds, when joining or leaving a company. Polls show the majority of Swiss plan to vote “yes” in the referendum, despite businesses warning it will drive out companies from the country.(read more)
Add to that the cap on manager salaries imposed by the surrounding EU countries and you see things are moving in the right direction over here.
Government: You’re doing it wrong:
You think the Tea Party is the most proficient government obstructionist of all times? They are not. They’re outright amateurs compared to the Italians: Our southern neighbors are blocking government right at the source. All Europe is frustratedly looking at what voters there did to their country. Outright distrust of government and politicians is in the Italian genetic code and not surprisingly so, given the corruption that is rampant in the country, but now they overreached.
IT IS hard now to recall that just three months ago the big threat Italy posed was of becoming boring. Its technocratic government, under Mario Monti, had regained the markets’ confidence. The spread of Italian government bonds over German ones was dwindling. The troublesome Silvio Berlusconi no longer led his fast-disintegrating party, and it seemed certain that the centre-left would win the next election. Mr Monti might then have become an economic super-minister—if he had not taken over the right with a mandate to make it more soberly European. (read more)
Let me add, Italy, unlike the US for instance has a fairly low constitutional threshold for new elections. They’ll be at it again in a few months, everybody agrees.
I wish you all a Happy and Relaxing (yes caps) Sunday. Enjoy some reading and our discussion. It is an Open Thread so join in.