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Bankers` bonuses to be curbed


The financial crisis may be slowly ebbing and some banks returning to profit, but the issue of bankers` bonuses remains politically charged, especially in Europe, the New York Times reported. In Ap...

  The financial crisis may be slowly ebbing and some banks returning to profit, but the issue of bankers` bonuses remains politically charged, especially in Europe, the New York Times reported. In April, with the crisis still raw, leaders from the G-20 agreed at a meeting in London to find ways to curb bonus checks, including deferring payments and rewarding employees based on the performance of a bank. They proposed penalties in cases where the hunt for bonuses encouraged excessive risk-taking. Yet action on those goals has been patchy. France and Germany have laid down relatively strict rules governing remuneration, while Britain and the United States have shown less vigor, experts say. Saudi Arabia wants the G-20 nations that will meet this week in London to implement banking supervision measures to avoid future credit crises, the governor of the kingdom's central bank Muhammad Al-Jasser said, according to the state-run Saudi Press Agency, Bloomberg reported. The G-20 will discuss whether the measures already agreed by the participating nations at their previous summit were implemented, and how to assist the global economic recovery, he said. "The global economy has overcome the worst part of the crisis," he said.

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Bankers` bonuses to be curbed