Conceivably, the ECB could act despite Bundesbank opposition, but in practice it is difficult to see how the central bank could sustain a credible intervention without the Germans on board.

Benchmarking may sound like a term from the big-business board room, but it's a useful practice for nonprofits of any size.

Us rules require the highest-paid earners to be named regardless of whether they sit on the board, but Walker refused to adopt a similar practice for the UK.