ENI – A German Catholic bishop has lashed out at the rise of top management salaries by up to 30 per cent at the same time as companies are plunged into bankruptcy and jobs are cut.
Reinhard Marx, chairperson of the German episcopal Commission for Societal and Social Matters, told a local newspaper he thought such salary hikes were “audacious.”
“We are moving away from a social market economy to capitalism, where only the yields count and where those people who have only capital yields in mind are rewarded,” the bishop said.
