End "bankers' bonus" culture, says Economic Affairs Committee

End "bankers' bonus" culture, says Economic Affairs Committee of the European Parliament

(...) New rules to end the bankers' risk-taking culture that led to the global economic crisis were backed by Economic and Monetary Affairs Committee MEPs on Monday evening. Bailed-out bank directors must get no bonuses until banks have repaid public support, bankers' bonuses must be capped at 50% of total remuneration, and bankers' bonus payments should be deferred until profits are actually earned, not just forecast, added the committee. The rules will be put to a plenary vote in July.(...)