§ Mr. Foulkesasked the Chancellor of the Exchequer what responsibility he has as governor of the European Investment Bank for approving the salaries of the president and vice presidents of the bank; and what are the current level of salaries in each case.
§ Mr. Ian Stewart[pursuant to his reply, 7 November 1983, c. 8]: Under article 13(5) of the European Investment Bank statute, the board of governors has ultimate responsibility for determining the remuneration of the president and vice presidents of the bank. The board of governors decided on 25 January 1958 that the salaries of the president and vice presidents of the European Investment Bank should be the same as those of the president and vice presidents of the commission. These are 5,190,244 and 4,701,308 Belgian francs respectively—approximately £65,000 and £58,900. See: EC regulation No. 440/83 of 21 February 1983 — Official Journal L/53/2; regulation No. 3821/81 of 13 December 1981—Official Journal L/386/4 — and regulation No. 1546/73/EC—Official Journal L/155/8.