Tag Archives: banking reform

LibLink… Sharon Bowles MEP: Calls for restraint have been ignored for too long – this bonus culture has to end

Sharon Bowles MEP writes about bankers’ bonuses in the Independent. She tackles the arguments against EU proposals to limit bonuses to a years’s salary. Will banks relocate overseas? Sharon says not:

Firstly, the threat of bankers relocating to avoid the cap has been grossly exaggerated.  The cap will only apply to a small number of so-called high-risk traders, around 5000 out of the estimated 750,000 people employed in London’s financial sector. Moreover, the bonus cap will also cover all key staff who work for European banks across the world, no matter whether they operate in London or Singapore. And with Switzerland

Posted in LibLink and News | Also tagged , and | 19 Comments

This week in Europe: 25-28 February

European Liberals and Democrats to oppose the 2014-20 budget proposal but accept the global amount

In a statement on Wednesday, the ALDE Group in the European Parliament adopted its position ahead of negotiations on the new EU budget. Guy Verhofstadt, its Group Leader, called for a transfer of spending from farming and cohesion policy towards research, innovation, infrastructure and competitiveness, and condemned the EU’s growing deficit;

Nor can we countenance the creation of excessive deficits, building up outstanding commitments year on year to a potential debt of €300 billion by 2020, if all commitments are taken up.

He also called for a binding …

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This week in Europe: 7-10 January

Report on proposed banking reforms is published

The Economic and Monetary Committee has published a report “Banking Union and a Single Banking Supervisory Mechanism“, with some expert opinions from European economists on the European Commission proposals to create a single supervisor for European banks. For those interested in the proposals, their viability and some of the arguments for gradations of supervisions – the 200 largest banks in the Eurozone have approximately 90% of the market in that area – the five opinions will provide a lucid, and brief summary of the key issues, the context in which decisions are being …

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Recent Comments

  • User Avatarpaul barker 31st Oct - 1:14pm
    It looks to me that Clegg & The EU are wrong about this. Clegg is right that we should be looking for long-term solutions but...
  • User AvatarJohnTilley 31st Oct - 1:02pm
    RC Your claim that --"..Wealth is not being “sucked into” London. It is being generated there by people’s skill and hard work .." is simply...
  • User AvatarChrisB 31st Oct - 12:55pm
    >It seems to me that Clegg is simply factually incorrect I get that feeling a lot. He's going with the whole "we like to have...
  • User AvatarDav 31st Oct - 12:42pm
    No Benj, London does not act like a “black hole”, because it spews out vast amounts more in tax revenue than it receives in total...
  • User AvatarDav 31st Oct - 12:34pm
    Because they are not a charity, and are already charging as much as the market will bear No they're not, they're charging the market clearing...
  • User AvatarNick Thornsby 31st Oct - 12:21pm
    It seems to me that Clegg is simply factually incorrect. My understanding is that the Italian government had voluntarily taken steps to have a much...