German gold debate rages on

The debate in Germany about the Bundesbank's gold reserves and salary bonuses is continuing. Some commentators agree with the finance ministry that there are good reasons for selling some of the gold on the grounds that Germany does not need such large reserves any longer and many also agree that it is necessary to modernise the salary and bonus system, which is not related to performance at present.

But commentators also say that the finance ministry has been wrong to connect these two issu