According to Bloomberg European Union lawmakers said they will fight proposals from
EU Financial Services Commissioner Michel Barnier that would water down
legislation capping banker bonuses.
European Parliament members have until the end of the week
to respond to Barnier’s compromises, which would weaken a ban they approved in
May on bonuses larger than bankers’ fixed pay, Sharon Bowles, chairwoman of the
assembly’s economic and monetary affairs committee, said in an interview.
Bankers are facing a backlash from EU lawmakers determined
to cut variable pay as part of a quest to reshape lenders as utilities rather
than money-making machines….
More? Check out http://www.bloomberg.com/news/2012-08-29/banker-bonuses-at-risk-as-eu-lawmakers-fight-barnier-compromise.html
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