EU Council: Ministers condemn 'excessive' executive pay

In May 2008, the finance ministers of the eurozone countries criticised high levels of remuneration and pay-offs for senior managers, at a time when EU governments and financial institutions are calling for wage moderation.

The ministers, from the 15 countries that have introduced the euro single currency, meet regularly as the “eurogroup” before full meetings of the EU Economic and Financial Affairs Council to discuss economic developments in the eurozone.