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Announcing the Intrade Virtual Internships.

Announcing the Intrade Virtual Internships. http://htxt.it/rNMM

What will the ECB Do Today?

Currencies Lets hope the ECB drop rates and confirm a program of quantitative easing today. http://htxt.it/XsUz

EU think 2010 unemployment in Eurozone will top 11%

EU think 2010 unemployment in Eurozone will top 11%. We think it is higher. http://htxt.it/Q4xI

US Tax Changes - Will Hurt Ireland

US multinationals paid $16bn US tax on $70bn earnings or a tax of 2.3% in '04. Obama intends to change this - Ireland to suffer. http://htxt.it/bbQw

Swine Flu - Update

The markets are pricing in a 40% chance of 5000 or more cases of Swine Flu be end June.

Irish EU Commissioner McCreevy proposes new Directors Pay Guidelines

These are new guidelines but the Commissioner will propose they be enshrined in law soon. 

The guidelines apply to all financial undertakings having their registered office or head office in an EU state. 

The main elements of the bankers' guidelines include:

-- payment of the major part of the bonus should be deferred to take into account risks linked to the underlying performance through the business cycle;

-- performance measurement criteria should privilege longer-term performance of a company;

-- financial institutions should be able to claim back already paid bonuses where data has been proven to be manifestly misstated;

-- a company's board should have responsibility for oversight of remuneration policy throughout the bank;

-- board members and other staff involved in the design and operation of remuneration policies should be independent;

-- remuneration policy should be adequately disclosed to stakeholders;

-- supervisors should ensure that financial institutions apply the principles on sound remuneration.

-- severance pay in cases of failure ot be banned

-- a minimum vesting period of at least three years on stock options and shares with some retained until employment ends.

-- Companies should also be allowed to reclaim the variable component of a director's pay

-- non-executive directors should not receive share options as part of their remuneration to avoid conflicts of interest.