Bid to curb bank bonuses returns to haunt EU

European Union finance ministers face a potentially stormy Tuesday session fighting over whether curbs on bankers’ bonuses should be written into key new legislation controlling the security of banks’ core reserves.

A decision reached last week by the EU’s current chair Ireland and the European Parliament, would see bankers’ bonuses capped under the new law.

Proponents say this will prevent a repeat of a global financial crisis like the 2008 mortgage meltdown that triggered eurozone debt chaos, recession and mass unemployment across the continent.

via Business feed http://www.scmp.com/business/banking-finance/article/1178961/bid-curb-bank-bonuses-returns-haunt-eu