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:
Photo

After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.

Obama In India

Reuters Showcase

Coal Mining

Coal Mining

India to open coal to commercial mining firms soon, minister says  Full Article 

RBI Loan Rules

RBI Loan Rules

RBI relaxes overseas loan recast rules   Full Article 

E-commerce Firms

E-commerce Firms

Amazon, e-commerce rivals fuel commercial property boom in India  Full Article 

Growth Forecasts

Growth Forecasts

Indian economic growth forecasts pegged back, despite rate cuts: Reuters Poll.  Full Article 

Uber is Back

Uber is Back

Uber back in Delhi; govt says must await approval.  Full Article 

Markets at Record

Markets at Record

Sensex rises to record after ECB stimulus programme.  Full Article 

Pharma Sector

Pharma Sector

Ipca Labs hit by FDA ban on plant for standard violations.  Full Article | Related Story 

Forex Reserves

Forex Reserves

India FX reserves at record high as RBI fortifies defences  Full Article 

QE for Euro Zone

QE for Euro Zone

ECB launches 1 trillion euro rescue plan to revive euro economy.  Full Article 

Reuters India Mobile

Reuters India Mobile

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