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 AvatarLittle Jackie Paper 27th Feb - 9:09am
    Daniel Walker - 'That, broadly speaking, is the rule, we just do not enforce it here.' Sorry, what rule is it that we don't enforce?...
  • User AvatarJennie 27th Feb - 9:07am
    A snore.
  • User Avatartheakes 27th Feb - 9:04am
    Legacy not lagacy, sorry.
  • User Avatartheakes 27th Feb - 9:03am
    See we face another very difficult by election at Manchester Gorton, where the lagacy of Cleggie and his coalition caused us to lose 28% of...
  • User Avatarmatt 27th Feb - 8:22am
    @Catherine Jane Crosland "If an assessment does have to be carried out by someone the applicant does not know, then it is important to ensure...
  • User AvatarCatherine Jane Crosland 27th Feb - 7:56am
    Matt and Hywel, Yes, thinking it over in the light of what you have said, I can see that it is true that there could...