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15/03/2013

Meet "The man who capped the banks"*

A briefing by Philippe Lamberts MEP on the new banking regulatory dossiers and the caps on bank bonuses at EU level


At the end of February 2013 EU Ministers and the European parliament struck a provisional deal on new financial rules, including a cap on bank bonuses. EU finance ministers met at the beginning of March to confirm the deal.

The European Parliament is set to vote on the final agreement on the whole banking regulatory dossier and the bonus cap in its April 2013 plenary session

Philippe Lamberts, a Belgian Green MEP and a member of the Economic and Monetary Affairs Committee of the EP, was the first to raise the idea of pegging bonuses to salaries and has been at the forefront of efforts to impose the rule Europe-wide,  to discourage excessive risk-taking in the financial sector.  

In this 'behind-the-scenes' briefing and Q&A, Mr Lamberts gave his assessment of the state of play on the various banking regulatory dossiers on which the European Parliament will vote on in April.

*Financial Times headline, 1 March 2013

 

In the media

BBC News - Business Belgian MEP Philippe Lamberts spearheaded the campaign to limit bonuses and told the BBC's Nigel Cassidy that the incentive of doubling a salary should be enough to reward performance.