EU to cap banker bonuses, tighten regulation
- Published: 28 Feb 2013 at 15.43
- Online news: World
The European Union has agreed new rules that will cap bankers' bonuses, blamed by critics for helping to drive the global financial crisis but also defended as crucial for the smooth working of the banking system.
The European Union flag flies in front of the European Parliament on October 12, 2012 in Strasbourg. The European Union has agreed new rules that will cap bankers' bonuses, blamed by critics for helping to drive the global financial crisis but also defended as crucial for the smooth working of the banking system.
The European Parliament and the EU's current Irish presidency agreed early Thursday how to implement Basel III, an internationally-agreed set of regulations which tighten capital requirements in the hope of preventing any repeat of the 2008 banking collapse.
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