In a speech warning of the need for EU reform, Chancellor George Osborne said that EU rules on bankers' pay would lead to a "Fred Goodwin-style situation" in which money would not be recoverable
"These European rules will not lead to bankers being paid less," he said. "What they will lead to is a Fred Goodwin-style situation where you will not be able to get money back off bankers when things go wrong."
"That is precisely what we have been trying to get away from in Britain," the Chancellor added.
More top news
The grandson of Auschwitz's former commandant has told ITV News he could never understand how the family man could be "a mass murderer."
There are complex and contradictory ideas swirling through Germany as it digests the election in Greece. It’s a complex story.
Labour's demands for tougher safeguards on shale gas extraction were accepted by MPs but attempts to introduce a moratorium were defeated.