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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.

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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.

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.

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