‘EU ready to impose tough bank pay curbs’

EU banking reforms look set to introduce restrictions on bankers' salaries, a move which will infuriate much of the City of London. The idea, which is backed by European Parliament, would limit bankers’ bonuses in excess of their salary.
France has recently backed to the idea, and so too has Germany, meaning there is now a "clear majority" willing to agree to the cap, in order to conclude the debate and allow other issues, such as reforms of bank capital rules, to be discussed.