Bank bonus culture must end: Borg
TT/Stuart Roberts - [email protected]
Published: 2 Sep, 2009 CET.
Updated: Wed 2 Sep 2009 14:09 CET
Finance Minister, Anders Borg, will tell EU finance ministers today that the culture of high bonuses that exists in the banking sector must end.
“The key question for this meeting is that we must put a stop to bonuses going through the roof again. The banks were partying like it was 1999, but it is actually 2009," he said before today’s finance ministers’ meeting in Brussels, news agency TT reports. “The bonus culture must end,” he added.
The meeting is intended to unify the EU in a common position before the G20 meetings to be held in London on Friday and Saturday, and in Pittsburgh later in September.
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“The key question for this meeting is that we must put a stop to bonuses going through the roof again. The banks were partying like it was 1999, but it is actually 2009," he said before today’s finance ministers’ meeting in Brussels, news agency TT reports. “The bonus culture must end,” he added.
The meeting is intended to unify the EU in a common position before the G20 meetings to be held in London on Friday and Saturday, and in Pittsburgh later in September.
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