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

Kerry in India

REUTERS SHOWCASE

Deadly Landslide

Deadly Landslide

Landslide near Pune kills 10, scores feared trapped.  Full Article 

Fed Policy

Fed Policy

Fed presses forward with bond buying, cites uptick in inflation.  Full Article 

Big Infra Deal

Big Infra Deal

Piramal, Dutch APG tie up for $1 bln infra investment  Full Article 

E-Commerce

E-Commerce

Amazon says to invest $2 billion more in India   Full Article 

Lupin Results

Lupin Results

Q1 net profit up 56 percent on higher U.S. drug sales   Full Article 

Smuggling Gold

Smuggling Gold

Air India staff found smuggling gold  Full Article 

Economy Reboots

Economy Reboots

U.S. economy back on track with strong second-quarter rebound .  Full Article 

Auto Sector

Auto Sector

VW closes in on Toyota as global auto leader  Full Article 

Expanding Reach

Expanding Reach

Tata to invest $35 bln over 3 years, focus on new businesses   Full Article 

Reuters India Mobile

Reuters India Mobile

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