Dutch minister insists on capping bankers' bonuses

8th September 2009, Comments 0 comments

Finance minister Wouter Bos wants to take step to curb bankers’ bonus even if G20 ministers can’t agree on international measures.

The Netherlands – Dutch Finance Minister Wouter Bos is prepared to take unilateral steps against a recurrence of excessive banking bonuses if no international measures are agreed, he told Dutch public TV programme NOVA on Monday.

Bos is considering a link between bonuses and a banker's salary. Bankers could also be asked for a formal statement promising they are not after personal gain.

It was "very sad" that less than a year after the financial crisis, bankers 
are reverting to their old habits in Wall Street and other places, said Bos.

Bos will attend the G20 summit of the world's 20 major economies at the end of September. The Netherlands is not one of the top 20, but US President Barack Obama has agreed to a Dutch presence.

The Group of 20 ministers are meeting in London Saturday to prepare the ground for a Group of 20 leaders' summit in the US city of Pittsburgh on 24-25 September.

Sharp divisions between Europe and the United States over bankers' bonuses were set to dominate talks.

France wants bonuses to be capped, in a call strongly backed by Germany.

But the United States and Britain, keen to protect the status of Wall Street and the City of London as the world's leading financial centres, are opposed to the proposal for a simple cap.

Radio Netherlands / AFP / Expatica 

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