What do you think of transparency in salaries?

Its just not going to work in a company where the salaries are not equal.

Creates only frustration

No way, 

It seems to have worked well for the public sector. However, I can see where you would need to be very careful in what business you implement this scheme. I personally wouldn't want to know that someone doing less is making more.

It is actually advisable to have this transparency as it does not give cause for the colleagues to compare and gossip on the same.  Secondary it is this category that more than often compare/share their salary information which gives rise to dissendency amongst their ranks and the correpsonding teams. "Prevention is better than cure"

This does not work in the private sector . I have seen cases where its implementation has led to severe frustration and serious deterioration of relationship in organizations. 

From my point of view, transparency concept or transparency policy is essential to avoid corruption in companies, organizations or institutions.

This is the problem in Spain at present: bank managers and politicians with high salaries that aren't proved and keeping two sets of books

Transparency in salaries could cause problems for the organisation. It is important to be as fair as possible when setting salaries. However, in the real world this is unfortunately almost impossible to achieve, especially in large organisations. 

Such transparency is advisable if salaries are also fair.Because otherwise, as rightly pointed out by many here, it would only cause more frustration.

I think the result will depend on enviroment where this system will be adopted. If salary of each position is regulated by company's internal regulation and it does not depend on personal factors, it can be a big motivating factor for those employees who are ambitious and would like to have promotions in the future. In those enviroments (companies) where the level of salaries are decided by one person (subjective factors) or a little group of them and is based on decision makers personal interests can decrease the motivation of employees and generate a sense of injustice. The same situation can also be in the first case, if employees knows that they have no real chance to promote because of corruption in the high level management who is making decisions about employees promotions.    

After having given acceptance to the formal offer it should not make any difference. Unhealthy comparisons lead to dissatisfaction and has no end to meet.