European Union caps bankersí bonuses

Posted in the Minneapolis Forum

Smarter Liberal

Minneapolis, MN

#1 Feb 27, 2013
European Union caps bankersí bonuses

Source: Financial Times

Bankersí bonuses are to be capped at two times bankersí salaries and banks will be subject to a strict transparency regime, under a provisional EU deal that includes minimal concessions to cushion the most severe pay crackdown since the 2008 financial crisis.

In a serious setback for the UKís fight to head-off some of the remuneration curbs, the European parliament late on Wednesday night secured agreement on a mandatory 1:1 ratio on salary relative to variable pay, which can rise to 2:1 with explicit shareholder approval.

.......

The breakthrough in talks between the European parliament and Ireland, which negotiates on behalf of EU member states, paves the way to enact the so-called Basel III capital rules, an internationally agreed blueprint for avoiding another banking crisis.

......

As well as a prized bonus cap, which would go into effect in January 2014, parliament also prevailed in requiring banks to reveal their taxes and profits on a country-by-country basis from 2015, as long as the extra transparency is not judged by the European Commission as an impediment to inward investment.

Read more: http://www.ft.com/cms/s/0/ba3a37f6-80f0-11e2-...
Cap Capitalism

Saint Paul, MN

#2 Feb 28, 2013
We should do the same here.

Tell me when this thread is updated:

Subscribe Now Add to my Tracker

Add your comments below

Characters left: 4000

Please note by submitting this form you acknowledge that you have read the Terms of Service and the comment you are posting is in compliance with such terms. Be polite. Inappropriate posts may be removed by the moderator. Send us your feedback.

Minneapolis Discussions

Title Updated Last By Comments
Global warming 'undeniable,' scientists say (Jul '10) 8 hr harmonious 32,966
Arrest hillary clinton for benghazi crimes 12 hr Space ace 1
How to clear out a High School Gym in short order. 12 hr Space ace 4
Obama Owns Ebola 12 hr Obama the best 28
Can't manage the gov & NOT honest or trustworthy (Nov '13) 15 hr LIbEralS 271
Woman's head stepped on by Rand Paul supporters (Oct '10) Sun Bill 26,311
Twin Cities: lowest metro unemployment rate in US Sun Imma Gunna 20
Minneapolis Dating
Find my Match

Minneapolis Jobs

Minneapolis People Search

Addresses and phone numbers for FREE

Minneapolis News, Events & Info

Click for news, events and info in Minneapolis

Personal Finance

Mortgages [ See current mortgage rates ]