EU leaders unite against bank bonuses

The UK, France and Germany have called September 2009 on the European Union to send a strong message at the G20 in Pittsburgh later in the month that it is 'fully and firmly resolved' to implement stimulus plans.

In a letter addressed to the Prime Minister of Sweden, the country which currently holds the Presidency of the European Union, Gordon Brown, Angela Merkel and Nicolas Sarkozy called for binding rules for financial institutions that would ensure improved governance, greater transparency and changes to remuneration and bonuses.

ESO: Background information: Paris presses G20 heads on bank bonuses http://www.europeansources.info/record/paris-presses-g20-heads-on-bank-bonuses/

ESO: Background information: Sarkozy tightens bank bonus rules http://www.europeansources.info/record/sarkozy-tightens-bank-bonus-rules/

ESO: Background information: Brussels wants cap on bank bonuses http://www.europeansources.info/record/brussels-wants-cap-on-bank-bonuses/

EurActiv, 3.9.09: EU pushes for clampdown on bankers' bonuses http://www.euractiv.com/en/financial-services/eu-pushes-clampdown-bankers-bonuses/article-185060

United Kingdom: Prime Minister's Office: UK, France and Germany release joint letter on G20, 3.9.09 http://www.number10.gov.uk/Page20496

BBC News, 3.9.09: Joint call for bank bonus rules http://news.bbc.co.uk/1/hi/business/8235764.stm

EurActiv, 17.9.09: EU summit to clamp down on bankers' bonuses http://www.euractiv.com/euro-finance/eu-summit-clamp-bankers-bonuses-news-222639

Sweden: EU Presidency: News, 17.9.09: Informal European Council http://www.se2009.eu/en/meetings_news/2009/9/17/informal_european_council.html

Deutsche Welle, 4.9.09: Bankers' bonuses on the chopping block http://www.dw-world.de/dw/article/0,,4623178,00.html

France24, 2.9.09: Finance ministers support bonus caps despite UK hesitations http://www.france24.com/en/20090902-finance-ministers-support-caps-banker-bonuses-despite-hesitations-great-britain-eu-brussels

EurActiv, 4.9.09: EU leaders want unity on financial regulation ahead of G20 http://www.euractiv.com/en/financial-services/eu-leaders-want-unity-financial-regulation-ahead-g20/article-185123#

PressEurop, 4.9.09: Where's the profit in a bonus clampdown? http://www.presseurop.eu/content/article/91311-wheres-profit-bonus-clampdown

BBC News, 5.9.09: G20 proposes curb on bank bonuses http://news.bbc.co.uk/1/hi/business/8239587.stm

France24, 5.9.09: Ministers vow to tackle bank pay but fail to agree on bonus limits http://www.france24.com/en/20090905-ministers-vow-tackle-bank-pay-but-fail-agree-bonus-limits-g20-finance-cap-stimulus

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