Tuesday May 13, 07:18 AM
EU finance ministers to launch assault on bankers' bonuses - report
LONDON (Thomson Financial) - A group of key European Union finance ministers will launch an assault on Tuesday on the bonuses awarded to bankers and top managers in a move that poses a potential threat to the City of London (LSE: CIN.L
- news) , the Daily Telegraph reported.
A confidential document prepared for the gathering in Brussels finds the 'short-term' pay structure of modern capitalism has become deformed, causing firms to take on 'excessive risk' without regard to the interests of stakeholders or society, the paper said.
Ministers are eyeing curbs on stock options, bonuses and golden parachutes, it added.
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