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

Press Event

Press Event

Modi takes tea, but no questions, in first press event as PM.  Full Article 

School Shooting

School Shooting

Two killed, four wounded in Washington state school shooting.  Full Article 

Sundar Pichai Elevated

Sundar Pichai Elevated

Google's Pichai to oversee major products and services.  Full Article 

Need For Reforms

Need For Reforms

Euro zone risks "relapse into recession" without structural reforms - Draghi.  Full Article 

Diwali Sales

Diwali Sales

Gold sales jump about 20 pct for Diwali - trade body  Full Article 

World Bank Rival

World Bank Rival

Three major nations absent as China launches W.Bank rival in Asia  Full Article 

Wal-Mart India

Wal-Mart India

Murali Lanka appointed as Wal-Mart India operations chief  Full Article 

Health Of Lenders

Health Of Lenders

25 European banks set to fail health checks - sources.  Full Article 

India Insight

India Insight

Kalki Koechlin on her role as a disabled girl in “Margarita, With a Straw”  Full Article 

Reuters India Mobile

Reuters India Mobile

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