Swiss Reject Measure to Curb Executive Pay

[BlueMTexpat]

6. This was not the beginning of the story, nor will it be the end.

Here's what SwissInfo has to say: http://www.swissinfo.ch/eng/swiss_news/Salary_limit_judged_too_extreme_by_voters.html?cid=37401508

For Der Bund in Bern, the fear of economic damage was stronger than the desire for justice. “Anger over wage orgies in boardrooms has not dissipated. Only if the majority of voters feel that the business world is not abusing its freedom will they be prepared to reject leftwing regulation and rightwing isolationism.”

The Neue Luzerner Zeitung believed that unlike the so-called fat cat initiative – backed by 68 per cent of voters in March and which gives shareholders a veto over top manager payments – “the business world this time managed to get its arguments across”.

“Despite its defeat, the leftwing will continue its march against the liberal economic system,” it continued. “The parties on the other side can merely breathe a sigh of relief for the time being.”

and

As the Tages-Anzeiger pointed out, “every third voter in this relatively liberal country wanted a wage cap to be fixed by the state. The initiative’s opponents can’t simply blow off demands for a fairer distribution of wages”.