Is the ECB sacrificing reforms on the altar of inflation? | Alessio Terzi at

German Logo of the ECB.

German Logo of the ECB. (Photo credit: Wikipedia)

This research paper published by think-tank Bruegel is worth a read. Check it out!

via Is the ECB sacrificing reforms on the altar of inflation? | Alessio Terzi at

It looks like despite all the pain since the financial crash of 2008, the Eurozone has little real appetite for structural reform. More fundamentally, the article speculates that as QE starts to bite, there will be even less reform.

The conclusion seems to be that a better way is urgently needed than the austerity/reform model?


What’s an acceptable level of pay for an interim manager in the NHS?

This is well worth a read. In my view, the interim sector into the NHS requires a savage cull. There seems to be a swing door policy that benefits the privileged few and their cronies in resourcing firms – all of this is not in the public interest nor does it demonstrate best value for money.

There needs to be legislation barring public sectors workers from working as a consultant in the public sector – I suggest three years from the time they leave paid employment.

Expenses for public sector employees should be capped at HMRC levels.

It’s time for the austerity axe to fall on the fat cats. These people need to compete in the open market, with the best from the private sector in the UK & the public sector globally.

The percentage of interim management costs as a percentage of total NHS budgets is a disgrace.

Nhshack's Blog

There’s an invisible barrier for chief executives in the NHS: as far as I know, no permanent chief exec is paid more than £300,000 a year (please let me know if I am wrong).

But there seems to be no such barrier for interim execs. In 2013-14 the number of cases where they were paid rates which amounted to more than £300K a year doubled compared with the previous year. The Telegraph story is here You might argue with the use of the word ‘fatcats’ or even with the methodology but the evidence is clear in annual reports: interim managers are often paid shedloads. Top chief executives and finance directors in the NHS are paid well; but they could often earn more – or work less – by becoming interims.

Of course, what the Telegraph is talking about is cost rather than pay – and there are issues of…

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