Best of the Week
Most Popular
1. Market Decline Will Lead To Pension Collapse, USD Devaluation, And NWO - Raymond_Matison
2.Uber’s Nightmare Has Just Started - Stephen_McBride
3.Stock Market Crash Black Swan Event Set Up Sept 12th? - Brad_Gudgeon
4.GDow Stock Market Trend Forecast Update - Nadeem_Walayat
5.Gold Significant Correction Has Started - Clive_Maund
6.British Pound GBP vs Brexit Chaos Timeline - Nadeem_Walayat
7.Cameco Crash, Uranium Sector Won’t Catch a break - Richard_Mills
8.Recession 2020 Forecast : The New Risks & New Profits Of A Grand Experiment - Dan_Amerman
9.Gold When Global Insanity Prevails - Michael Ballanger
10.UK General Election Forecast 2019 - Betting Market Odds - Nadeem_Walayat
Last 7 days
British Pound GBP Trend Analysis - 14th Oct 19
A Guide to Financing Your Next Car - 14th Oct 19
America's Ruling Class - Underestimating Them & Overestimating Us - 14th Oct 19
Stock Market Range Bound - 14th Oct 19
Gold, Silver Bonds - Inflation in the Offing? - 14th Oct 19
East-West Trade War: Never Take a Knife to a Gunfight - 14th Oct 19
Consider Precious Metals for Insurance First, Profit Second... - 14th Oct 19
Stock Market Dow Elliott Wave Analysis Forecast - 13th Oct 19
The Most Successful IPOs Have This One Thing in Common - 13th Oct 19
Precious Metals & Stock Market VIX Are Set To Launch Dramatically Higher - 13th Oct 19
Discovery Sport EGR Valve Gasket Problems - Land Rover Dealer Fix - 13th Oct 19
Stock Market US Presidential Cycle - Video - 12th Oct 19
Social Security Is Screwing Millennials - 12th Oct 19
Gold Gifts Traders With Another Rotation Below $1500 - 12th Oct 19
US Dollar Index Trend Analysis - 11th Oct 19
China Golden Week Sales Exceed Expectations - 11th Oct 19
Stock Market Short-term Consolidation Does Not change Secular Bullish Trend - 11th Oct 19
The Allure of Upswings in Silver Mining Stocks - 11th Oct 19
US Housing Market 2018-2019 and 2006-2007: Similarities & Differences - 11th Oct 19
Now Is the Time to Load Up on 5G Stocks - 11th Oct 19
Why the Law Can’t Protect Your Money - 11th Oct 19
Will Miami be the First U.S. Real Estate Bubble to Burst? - 11th Oct 19
How Online Casinos Maximise Profits - 11th Oct 19
3 Tips for Picking Junior Gold Stocks - 10th Oct 19
How Does Inflation Affect Exchange Rates? - 10th Oct 19
This Is the Best Time to Load Up on These 3 Value Stocks - 10th Oct 19
What Makes this Gold Market Rally Different From All Others - 10th Oct 19
Stock Market US Presidential Cycle - 9th Oct 19
The IPO Market Is Nowhere Near a Bubble - 9th Oct 19
US Stock Markets Trade Sideways – Waiting on News/Guidance  - 9th Oct 19
Amazon Selling Fake Hard Drives - 4tb WD Blue - How to Check Your Drive is Genuine  - 9th Oct 19
Whatever Happened to Philippines Debt Slavery?  - 9th Oct 19
Gold in the Negative Real Interest Rates Environment - 9th Oct 19
The Later United States Empire - 9th Oct 19
Gold It’s All About Real Interest Rates Not the US Dollar - 8th Oct 19
A Trump Impeachment Would Cause The Stock Market To Rally - 8th Oct 19
The Benefits of Applying for Online Loans - 8th Oct 19
Is There Life Left In Cannabis - 8th Oct 19
Yield Curve Inversion Current State - 7th Oct 19
Silver Is Cheap – And Getting Cheaper - 7th Oct 19
Stock Market Back to Neutral - 7th Oct 19
Free Market Capitalism: Laughably Predictable - 7th Oct 19
Four Fundamental Reasons to Buy Gold and Silver - 7th Oct 19
Gold and Silver Taking a Breather - 7th Oct 19
Check Engine Warning Light ECU Dealer Diagnostic Cost - Land Rover Discovery Sport - 6th Oct 19

Market Oracle FREE Newsletter

Stock Market Trend Forecast Oct - Dec 2019 by Nadeem Walayat

What Makes Brussels More Equal Than Others

Politics / Social Issues Apr 28, 2015 - 08:56 AM GMT

By: Raul_I_Meijer

Politics

Dutch daily Algemeen Dagblad ran a little article recently that we’re surprised no other news organization picked up. It concerned a proposal in the European Parliament in which the parliamentarians got to vote on raising their own paycheck (always a good idea). The best thing about the story is that not everyone voted in favor.

Most did though. It much amused me to see that apparently it was Angela Merkel’s party, the German Christian Democrats, which was behind the proposal. Initially, they had even wanted double what they actually got. Here’s some numbers and details – and please forgive me for not being a math wizard -.


A Member of the European Parliament (MEP), according to the article, receives the following for their valiant and entirely selfless efforts at public service:

• Salary: €8000+
• Expenses: €4300
• A per diem allowance of €300 for every day a meeting is attended.

Per year that adds up to: €147.600 + €30,000 if 100 meetings are attended. Let’s say €180,000.

On top of that, the Parliament pays into MEPs pension funds, but we’ll leave that alone for now.

There are 751 MEPs, so total ‘salary’ costs are €135,180,000. But that’s just the start.

And we’re not yet adding translation costs, which apparently can add up to over €120,000 per day (!), or perhaps some €30-40 million per year.

Nor are we taking into account the estimated at least €200 million per year it takes to have the entire Parliament (MEPs, assistants, translators, employees, in total about 4000 people) move between Brussels and Strasbourg every month, an oddity that springs from a drawn-out power poker play between Germany and France. Do note: the constant move costs way more than all 751 MEP’s base salary + expenses.

No, the proposal discussed, concerns the added expense accounts MEPs receive for their assistants. At present, the amount involved is over €21,000 per month, and according to the people who receive it – and vote on raising it -, that’s not enough.

Typically, says the Dutch paper, an MEP has 3 assistants, all of whom get paid €2500 a month. They’re also in a special low Brussels income tax bracket. This means each MEP receives €252.000 per year in ‘assistant costs’, and spends €90,000 in salary costs, leaving €162,000 for food and lodging. Since there are 751 MEPs, the total adds up to €15,771,000 per month or €189,252,000 per year.

And they want more.

The original proposal called for another €3000 per month. Because some MEPs protested against this, it was reduced to €1500. Or €18,000 per year per MEP, times 751, a cool €13,518,000. Just in extra costs they voted in all by themselves.

There are many many stories about people living the high life once they get voted into the Brussels/Strasbourg traveling circus. The majority have lucrative jobs at home. They stay in swanky hotels. They collect per diems for meetings they don’t actually attend. They lay the basis for lucrative corporate careers after they exit the Parliament. It’s democracy in theory but not in practice.

Brussels/Strasbourg is no stranger to corruption, or whatever word you would want to to use to describe what goes on. Still, there are lots of MEPs who are completely on the up and up, and many who even pay back a lot of their ‘compensation’ into either the Parliament itself or into their own – national – part coffers, because they say the payments are exorbitant. But they don’t speak up. At least not outside of the confines of the Parliament itself.

But these are also – all of them put together – the people who uphold the EU policies versus Greece, where there are really many children who are hungry, and seniors who can’t get proper health care. Faced with a situation like that, one would think a proper parliament of a proper union wouldn’t dare raise its own expenses – which have to be paid by member countries’ taxpayers – before and until all children in the union are properly fed, and all grandmas properly taken care off by qualified medical personnel.

One would think. These are also the people responsible for the EU support that allows the Kiev army’s mass killings of its own people. And for the continuation of the anti-Russia and anti-Putin stance that’s become so popular across the western world. They may not be the daily executives of the circus, but they still are the responsible at the end of the day.

They are also the people who voted to cut down the budget for the Mediterranean refugee patrol missions, money saved that, if you want to take a cynical enough view, was freed to raise their own stipends. As thousands drown.

And so again we would like to raise that question: why would anyone, any country, want to have these people take their decisions for them? What would make you think when you live in Greece that these traveling circus clowns would be better at protecting and defending your interests than your own people, who live where you live, who see what you see on a daily basis?

It’s fine, and it’s perhaps even logical, at first glance, for Greeks and Italians to want to remain part of the euro. But when you look closer, you can’t avoid the notion that by being part of the euro, you give up the autonomy you also crave. And that the price you pay for being a part of the euro, and of the EU, makes you a serf to greater and richer interests that care about you about as much as they care about flies on their walls.

This one story about what MEPs vote themselves is but one example. Why not send us an example of where and how you feel Brussels protects your interests better than your own governments? We’re really curious to know. Because we don’t see it.

By Raul Ilargi Meijer
Website: http://theautomaticearth.com (provides unique analysis of economics, finance, politics and social dynamics in the context of Complexity Theory)© 2015 Copyright Raul I Meijer - All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

Raul Ilargi Meijer Archive

© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules