Executive salaries is the main target of Australian Prime Minister Kevin Rudd as he blamed extreme capitalism for the global crisis. He pledged to trim down the salaries of executives as he called it as executive greed.
Australia will argue that a clear timetable needs to be agreed to protect global financial stability in the future at next month's G20 meeting, Mr Rudd said.
"We will be urging the G20 to commission an action agenda in collaboration with the International Monetary Fund, the Financial Stability Forum and the Basel Committee on Banking Supervision on the best means of implementing this initiative, preferably by the end of this calendar year.''
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