EU talks to cap banker bonuses stall

BRUSSELS Wed Feb 20, 2013 12:00am IST

A sign marks a cash point in front of the headquarters of Germany's largest business bank, Deutsche Bank in Frankfurt February 19, 2013. REUTERS/Lisi Niesner

A sign marks a cash point in front of the headquarters of Germany's largest business bank, Deutsche Bank in Frankfurt February 19, 2013.

Credit: Reuters/Lisi Niesner

Related Topics

BRUSSELS (Reuters) - Diplomatic talks to introduce a cap on banker bonuses in the European Union stalled after representatives of EU countries and the bloc's parliament failed to reach agreement on Tuesday, officials said.

The talks centre on a reform, which is part of the implementation of so-called Basel III bank capital rules aimed at preventing a repeat of the financial crisis. The new rules could cap banker bonuses at the level of their salaries.

One official who followed the discussions said that there had been no agreement on bonuses, with several parties unhappy with a proposal to allow for a higher cap on bonuses of three times salary.

"There still remain a few issues to be resolved," said a spokeswoman for Ireland, which as the holder of the rotating EU presidency, steered the talks.

"More intensive work needs to be done," she said, adding that another round of negotiations on February 27 would hopefully result in a deal.

(Reporting By Claire Davenport and John O'Donnell; editing by Ron Askew)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

Photo

RBI Policy Review

RBI keeps rates on hold, warns on inflation  Full Article 

China iPhone Sale

China iPhone Sale

China regulator approves Apple's iPhone 6 for sale in China  Full Article 

Cleanliness Drive

Cleanliness Drive

Modi orders officials to clean loos on Gandhi's birthday.  Full Article 

Jaitley's Health

Jaitley's Health

Finance Minister Jaitley in isolation ward, may skip U.S. trip.  Full Article 

China Factory

China Factory

China final HSBC PMI steady in September on stronger global demand but risks remain  Full Article 

Vadodara Violence

Vadodara Violence

Police arrest 140 for religious clashes in Vadodara as Modi tours U.S.  Full Article 

Japan Economy

Japan Economy

Economy takes another hit as spending, factory output fall  Full Article 

AIG Bailout

AIG Bailout

Six years after AIG bailout, trial asks: was it legal?  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage