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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  • User AvatarMichael BG 25th Jun - 12:09am
    @ Laurence Cox I think you have missed my point. Having 71,111 electors per MP is a major factor in the failure of our representative...
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    Simon, Corbyn does not have special powers off persuasion. He's the hypnotoad from Futurama
  • User AvatarMichael BG 24th Jun - 11:34pm
    @ Bill le Breton “EEA membership was not alas on the ballot paper – had it been so, then, it would have won.” This is...
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  • User AvatarGlenn 24th Jun - 11:23pm
    The sky has not fallen in and free movement etc has only been in place since the early 2000s really. If you were a student...
  • User AvatarLaurence Cox 24th Jun - 11:21pm
    @Michael BG :1300 MPs is far too many; the House of Lords is 800-900 and even that is too large. If we have around 600...