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Mikhail Liebenstein

Eu Rules That Bankers Role Based Allowances Count As Discrentionary Bonus

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http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/11164141/EU-toughens-up-banker-bonus-cap-in-new-blow-to-UK.html

"The introduction of these allowances sends out a very bad signal to the rest of society, to the effect that the banks have not learnt the lessons of the financial crisis and have not adapted their cultures to reflect the changes in the prudential and regulatory environment,"

"Compliance with both the letter and the spirit of the law is a prerequisite to restore trust and stability in our banking system."

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The bonus cap has proved highly unpopular in the City

but extremely popular everywhere else - and most everyone is hoping for more of it.

Edited by billybong

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