Spate of banker bonuses sparks fury

“Bank bonuses are no longer of our time”, leads De Morgen. The decision by major Belgian banks Dexia and KBC to pay out new bonuses to their executives has “deeply angered” some smaller banks. The latter see this as “unwise and a disaster for the confidence of clients in the banking sector” which is just beginning “to recover from the blows it has taken in the financial crisis.” De Morgen explains that the debate about bonuses began last week in the Netherlands, when ING announced a doubling of annual premiums for its main directors, ranging from 600,000 to 1.2 million euros, before abandoning the scheme under pressure from furious customers and the government. KBC and Dexia, which, like ING, received state aid during the crisis and have not yet repaid all their debts, do not intend to follow the example of ING, saying the bonuses are needed to “keep the top talent on board.”