Governors of Central Banks are generally well paid worldwide. They perform an important function: direct monetary policy, one of the two basic instruments of economic policy. But again the differences between Governors’ salaries vary strongly from one country to another. A graph based on the central bank's official records of the respective countries and the World Bank data shows how governors are paid in some of the world's most developed countries in relation to per capita income.
Ironically Ben Bernake, Federal Reserve chief in the United States, the most powerful economy in the world, turns out to be one of the most poorly paid.
Mr. Bernake has an annual salary of 3.8 times higher than the average per capita income of the United States. At the top of the list, is Mervin King, Governor of the Bank of England, who is paid 12.4 times more than the average income of a British citizen. In second place is Ardian Fullani. Governor of the Bank of Albania turns out to be one of the most paid. Incomes he receives from his annual salary and royalties at the Supervisory Council are about 100 thousand dollars, or 11.7 times higher than the average income of a citizen.
With this salary, the Governor of the Bank of Albania, in relative terms is paid three times more than the world's most important governor, the American Ben Bernake, whose responsibilities are much bigger, as he is responsible, aside from price stability, also for employment and economic prosperity.
Generally most of the governors are paid from 3.5 to 7 times more than the average income per capita of their country. These include, the governor of France, Australia, Sweden and even the governor of Ireland. The latter, over the past two years has voluntarily reduced his salary several times, as a sign of solidarity to the crisis and the difficulties of public finance, a foreign act so far to Albanian officials.
Determination of salaries at the Bank of Albania operates as a closed circuit, as it is the Bank's Supervisory Council that sets them. In Albania, the governor's salary is not limited even in the national wage hierarchy. This makes the current governor paid several times more than, not only the Albanian president, but Barack Obama, the most powerful man in the world.
Mr. Obama has an average annual salary of 300 thousand dollars, that compared to the average income per capita is 6.3 times higher, from 11.7 which is that of Fullani.
About 150 people surrounded Wednesday night the city electrical substation in Ballsh. Some villages in the surrounding area remained without electricity because energy consumption is not paid. CEZ has cut off the electric power because people have not responded to the call to pay for the energy they consume. Residents of the area have gone organized near the substation, led by reeves in order to force the electricity restoration. CEZ, to avoid any tragic accident, as more people entered the premises, have cut off the electric power of the whole station.
Police went to the scene to calm the aggravated situation. Meanwhile, residents seek to restore power.
Electricity may be restored if people begin to pay the electricity bill since 2007. CEZ, for several weeks, has begun to cut off the energy in areas that do not pay electricity bills for years.
Thursday morning, the residents went again to the electric substation near the substation in order to restore power. Police intervened and removed them, and took into custody all the substations that supply energy to the city of Ballsh.
Environmental experts give the alarm for increasing rate of erosion at the time of rainfall, due to the massive burning of forests, which still continues. Considering this year as an extraordinary one, not only in terms of high temperatures that are the cause for the burning of forests, but also due to arson, experts express their concerns about negative impacts it will cause to the environment.
"Once the rain starts, it takes the whole mass of the earth, humus and put on stream with him. If there is any forest, the collision is amortized," says Haki Zoto, specialist of the Ministry of Environment.
Another concern is the damage that is undergoing fauna, which according to specialists, results in the destruction of the entire ecosystem.
"In addition to the damage caused to the flora, there is also damage caused to wild fauna in the high forests, where fires have started, where bears, deer, wild boars, and species of mammals and birds live," says Zoto.
Some of the most problematic areas are those Bulqiza, Puka, Tepelena and Korça, who continue to burn out by fires.
At the beginning of the new parliamentary session, Assembly Speaker Topalli stated the government commitment to lift any legal immunity of officials and judges. In a statement for the media, which also made a summary of the activity of the Assembly during the last session, Speaker Topalli accused opposition leader Edi Rama for blocking a set of laws and reforms, in order to prevent the status of EU candidate country.
"Of course I was sad that the session closure on August 6 was made through a rejection or a blockage, to vote a draft written by the opposition.
This was a bad message sent to Albanians, to international community in the fight against corruption. No Member of Parliament is responsible for this message, because it’s their fault.
But we certainly feel that immunity lifting has a great importance and not the ways we do it. We have been and continue to be determined to pursue all legal and constitutional ways to achieve that goal, which is the immunity lifting," said Topalli.
Topalli commented on the issue of election of the new Chairman of the Central Election Commission, following the approval by consensus of the amendments to the Electoral Code. According to Topalli, the race for the new head of the CEC will be opened on September 3, a day after the amendments to the law come to effect.
The head of Parliament Topalli announced the launch of the new parliamentary session on Monday, September 3. The work agenda of the Assembly for this session is expected to be a series of important laws, part of the 12 criteria set by the European Union, where, among other things, is the law of the Supreme Court, the Law on Immunities and initiatives of the Socialist Party for some changes in the country’s Constitution.
The SP Parliamentary group addressed a letter to the Albanian President, expressing their concern regarding the behavior of the Greek authorities against the Albanian citizens in the border, such as the case of Top Channel’s reporter, Marin Mema.The MPs also mention the delicate issue of the maritime border agreement between the two countries. The MPs underline that the way how the President was elected and the way he has behaved so far leave no hopes that he will act independently from Berisha.“We followed closely and with great concern the case in which a well known Albanian journalist was banned from entering Greece and was declared unwanted in the neighboring country, considered a threat for the national security of Greece. We and the public are fully aware that this is only the most flagrant and notorious case of the many other incidents,
The SP Parliamentary group addressed a letter to the Albanian President, expressing their concern regarding the behavior of the Greek authorities against the Albanian citizens in the border, such as the case of Top Channel’s reporter, Marin Mema.The MPs also mention the delicate issue of the maritime border agreement between the two countries. The MPs underline that the way how the President was elected and the way he has behaved so far leave no hopes that he will act independently from Berisha.“We followed closely and with great concern the case in which a well known Albanian journalist was banned from entering Greece and was declared unwanted in the neighboring country, considered a threat for the national security of Greece. We and the public are fully aware that this is only the most flagrant and notorious case of the many other incidents,
The SP Parliamentary group addressed a letter to the Albanian President, expressing their concern regarding the behavior of the Greek authorities against the Albanian citizens in the border, such as the case of Top Channel’s reporter, Marin Mema.The MPs also mention the delicate issue of the maritime border agreement between the two countries. The MPs underline that the way how the President was elected and the way he has behaved so far leave no hopes that he will act independently from Berisha.“We followed closely and with great concern the case in which a well known Albanian journalist was banned from entering Greece and was declared unwanted in the neighboring country, considered a threat for the national security of Greece. We and the public are fully aware that this is only the most flagrant and notorious case of the many other incidents,
The SP Parliamentary group addressed a letter to the Albanian President, expressing their concern regarding the behavior of the Greek authorities against the Albanian citizens in the border, such as the case of Top Channel’s reporter, Marin Mema.The MPs also mention the delicate issue of the maritime border agreement between the two countries. The MPs underline that the way how the President was elected and the way he has behaved so far leave no hopes that he will act independently from Berisha.“We followed closely and with great concern the case in which a well known Albanian journalist was banned from entering Greece and was declared unwanted in the neighboring country, considered a threat for the national security of Greece. We and the public are fully aware that this is only the most flagrant and notorious case of the many other incidents,
The SP Parliamentary group addressed a letter to the Albanian President, expressing their concern regarding the behavior of the Greek authorities against the Albanian citizens in the border, such as the case of Top Channel’s reporter, Marin Mema.The MPs also mention the delicate issue of the maritime border agreement between the two countries. The MPs underline that the way how the President was elected and the way he has behaved so far leave no hopes that he will act independently from Berisha.“We followed closely and with great concern the case in which a well known Albanian journalist was banned from entering Greece and was declared unwanted in the neighboring country, considered a threat for the national security of Greece. We and the public are fully aware that this is only the most flagrant and notorious case of the many other incidents,
Sisters of Leo Messi & Ronaldinho and Neymar
The recent developments in Macedonia were the focus of the conversation between Prime Minister Sali Berisha and the leader of the Albanian Democratic Party in Macedonia, Menduh Thaci.Berisha expressed once again his condolences to Mr. Thaci for the passing away of the President of Honor of ADP, Mr. Arben Xhaferri.
“Mr. Menduh updated me with the recent developments and the stances of his political force. I guaranteed him that our major priority is the guarantee of further freedom rights of the Albanians in Macedonia, same as the peace and stability of this country. We support the cooperation efforts between the Albanian political forces in Macedonia together with the other ethnicities in this country, as the best interest of peace, stability and Macedonia’s EU integration. The conversation followed in a through mutual understanding”, declared the Albanian Prime Minister, Sali Berisha.
The “Papa Kristo Negovani” primary school in Erseka will welcome 600 students this September, a number that is increasingly growing with the return of emigrants from Greece.The school has several problems in its infrastructure. The academic year has engaged all teachers who are able to keep running a school that has not been repaired for several years.
Despite their efforts, the paint has not covered the humidity stains in the walls, while the heating system is almost entirely destroyed and the children are obliged to take their lessons in winter in very low temperatures, which are very common for this town.
This is the only primary school of this southeastern town, and it also welcomes students from some surrounding villages, such as Starje, Rehova, Tac, Pepellash, etc.
Although they hesitate, they admit that the school needs reconstruction, especially in the roof, but also for the heating system. Last winter made teachers and students face a very difficult situation, even obliging them to close the school for several days.
The Socialist MP, Erion Brace, rang the alarm bells about the energy system in Albania, saying that it is going towards a total financial collapse, and he blamed the decision making and policies of the government for this.“The decisions dictated or oriented by the government and sealed by the Energy Regulation Entity (ERE), not only have not resolved or avoided the collapse of the entire energy system in Albania, but due to the political rather than economic and financial nature, they are putting the burden of this bubble on the Albanian citizens and the only public company remained in the energy sector, the Albanian Energy Corporation (KESH)”, Brace declared.
Obliged by the difficult financial situation of CEZ, the government oriented ERE a few months ao to reduce the price with which the Czech Company buys energy at the public producer, KESH, from 2.83 ALL to 2.2 ALL per KWh.
“What is happening is even more serious. ERE not only is favoring for the next two or three years with 80 million USD, but they are also favoring them by giving a proactive effect to their decision. The decision has started since January 1st, 2012, and it continues until May. The financial effect increases with 2 billion ALL, or 20 million USD”, Brace declared.
Since KESH is suffering its own financial crisis, the government has guaranteed to compensate the financial effects of this decision with budget funds, which will decrease the KESH income for the next three years with 100 million USD, as shows an official document issued on June, signed by the Minister of Finances.
“This money doesn’t come from the pockets of the government representatives. This money comes from the Albanian taxpayers, who not only pay a very expensive power bill in order to cover the expenses of those who don’t pay electricity at all, but now their money will be used to solve the difficult situation of KESH, due to the political decisions that favor a private company, CEZ”, Brace declared.
But even with the government’s intervention, the situation in the energy sector is deteriorating. The debt sector that has included our market is getting bigger. Official data show that CEZ owes 95 million USD of unpaid obligations to KESH. While private and government institutions owe to CZ hundreds of millions of Euros in unpaid bills. KESH owes 280 million to second level banks, to the government and suppliers, and as KESH has confirmed, this burden is growing each day.
“This history involves a lot of money, but it is a bubble that will explode soon over the Albanian citizens’ head, who will be obliged to pay not only the cost of this crisis, but also the cost of this bubble of mutual debts between all companies that operate in the energy sector. This will also explode over the heads of those who are investing today in energy, answering to the Prime Minister’s calls”, Brace declared.
The financial crisis in the energy sector has officially peaked by the end of last year, when it almost infected the public finances. Facing difficulties caused by natural droughts and unpaid bills by CEZ, KESH was obliged to ask 3 billion ALL from the government, what risked the crossing of the legal public debt limit. Two months later CEZ informed that government that they were unable to import energy, due to the great financial losses. The system is now entangled in a dangerous net of debt that is expanding even outside the market, since on the bottom of it banks are the creditors of these companies.
