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28/02/2013
Banker's Bonuses Capped In New EU Deal
Bankers' bonuses could be capped as early as next year, following an Irish-brokered EU deal.
Welcoming the deal Minister for Finance Michael Noonan said he was proud the breakthrough had been made during the Irish presidency of the EU.
The European Parliament and EU national representatives reached the agreement late last night, in talks Noonan described as "long and torturous".
Under the agreement, bonuses will be capped at a year's salary, but can rise to two years' pay if there is explicit approval from shareholders.
(H/GK)
Welcoming the deal Minister for Finance Michael Noonan said he was proud the breakthrough had been made during the Irish presidency of the EU.
The European Parliament and EU national representatives reached the agreement late last night, in talks Noonan described as "long and torturous".
Under the agreement, bonuses will be capped at a year's salary, but can rise to two years' pay if there is explicit approval from shareholders.
(H/GK)
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