| Report Number: 1460 |
Date: 7/7/2010 |
Title: EU set to cap bankers’ bonuses – Irish MEP welcomes vote (1 of 3) |
Of interest to: 20 |
Script details: |
An Irish MEP is welcoming a European Parliament vote this lunchtime (Wednesday) in favour of EU legislation to cap bankers’ bonuses from 2011. Under the plans, banks will only be allowed to pay between 20 and 30 percent of bonuses upfront in cash. The rest can be clawed back if bankers’ investments don’t do well. The idea is to ensure bankers are rewarded for long-term performance rather than short-term risk-taking. Fine Gael MEP Gay Mitchell is welcoming the move. (Note to editors: EU governments are now expected to rubber-stamp this deal so that the new rules can come into force for January 2011.) |
Interviewee: Gay Mitchell MEP (Fine Gael) |
Duration: 0 minutes 16 seconds |
Out-words: seek to address |
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