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EU moves to cap bank bonuses

European Union officials last night struck a deal to cap bankers' bonuses at a year's salary. Under the deal some bankers may still earn twice their salary in bonuses if there is explicit approval from shareholders.

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Boris Johnson dismisses EU banker bonus cap

London Mayor Boris Johnson has attacked EU plans to cap banker bonuses.

He said: "People will wonder why we stay in the EU if it persists in such transparently self-defeating policies. Brussels cannot control the global market for banking talent. Brussels cannot set pay for bankers around the world.

Boris Johnson has attacked the European Union again. Credit: Steve Parsons/PA Wire/Press Association Images

"The most this measure can hope to achieve is a boost for Zurich and Singapore and New York at the expense of a struggling EU.

"This is possibly the most deluded measure to come from Europe since Diocletian tried to fix the price of groceries across the Roman Empire."

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