EU official: Cap on bank bonus to make industry 'fair'

Othmar Karas, the Austrian member of parliament part of introducing a cap on bankers' bonuses in the European Union has said the proposal was to bring in "fairness and responsibility" into the industry.


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.