Schulz said that the cap on bonuses was a ground-breaking measure, one that in his view would make the economic system fairer and safer.
"I welcome the agreement on new capital requirements for banks. I thank the rapporteurs Othmar Karas, Udo Bullman, Sharon Bowles and Philippe Lamberts and Vicky Ford for their hard work. Their skill and commitment allowed the European Parliament to significantly improve the planned legislation, notably by limiting bonuses for bankers.
The new rules will make the banking system safer, more stable and transparent. They will help to avert the risk of a repeat of the disastrous financial crisis that hit the global economy in 2008, throwing millions into poverty and unemployment.
The cap on bonuses is a ground-breaking measure that in my view will make the economic system fairer and safer. Exuberant bonuses often provided a wrong incentive for financial markets, encouraging risky behaviour and short-term, purely speculative investment."
Press release
© European Parliament
Key
Hover over the blue highlighted
text to view the acronym meaning
Hover
over these icons for more information
Comments:
No Comments for this Article