As reported at the New York Times by James Kanter and David Jolly, European Union negotiators for the European Parliament and Council have agreed on a plan to Limit Bankers’ Bonuses.
The strict limits will be part of a banking regulation package known as Basel III, which is designed to reduce banking dangers and excesses that helped to contribute to the financial crisis in Europe.
The British government opposes the plan, while at the same time waving the red banner of a future British referendum on European Union membership, which appears to this observer to be inconsistent, as Britain is thus trying to block correction of financial problems in the EU that in part have led to British dissatisfaction with the EU in the first place. You can't have it both ways.
Sunday, March 03, 2013
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