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MEPs want to limit bankers' bonuses to their fixed salaries. (Photo: Matt Buck)

MEP calls for end to massive bank bonuses

Austrian centre-right MEP Othmar Karas has called for an end to massive bankers' bonuses, which in some cases amount to 10 times the basic salary.

"We are looking at a set limit," Karas told the parliament's economic affairs committee in Brussels on Thursday (12 April). He explained that under his model, bonuses should not surpass a ratio of one-to-one on fixed salaries.

The highest paid banker in Europe in 2011, according to Financial News Online, is Mike Rees, who is the head...

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Author Bio

Nikolaj joined EUobserver in 2012 and covers home affairs. He is originally from Denmark, but spent much of his life in France and in Belgium. He was awarded the King Baudouin Foundation grant for investigative journalism in 2010.

MEPs want to limit bankers' bonuses to their fixed salaries. (Photo: Matt Buck)

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Author Bio

Nikolaj joined EUobserver in 2012 and covers home affairs. He is originally from Denmark, but spent much of his life in France and in Belgium. He was awarded the King Baudouin Foundation grant for investigative journalism in 2010.

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