Ministers meet to discuss bankers' bonus cap

EU finance ministers will meet in Brussels today to discuss last week's announcement of an overhaul of banking rules in the EU, including a cap on bankers' bonuses.

The agreement limits bonus payments across the EU to, at most, twice bankers' annual salaries.

Read: EU Minister: Banking reforms will protect taxpayer

Canary Wharf, the banking district of London Credit: Stefan Rousseau/PA Wire

Prime Minister David Cameron has insisted that it must be implemented in a way that takes into account the position of London as a global financial centre.

Banks have increased salaries across Europe by 37 per cent in the past four years in response to the current crackdown on bonuses.

Read: EU moves to cap bank bonuses

Advertisement

Osborne bank bonuses talks

George Osborne has left Brussels after meeting EU finance ministers to discuss an overhaul of banking rules in the EU, including a cap on bankers' bonuses.