Barroso calls for curb on bankers' bonuses

European Commission chief Jose Manuel Barroso calls for curb on bankers' bonuses. This is a report by financial24.org, based on Barroso's interview with Hamburger Abendblatt. (Here the German original: Scheitern darf nicht belohnt werden). Excerpts from the English report:

The payment of excessive bonuses incites financial managers to take ill-considered risks, Barroso told the German daily Hamburger Abendblatt. Rather, a system should be established that curbs the greed to realise quick profits and that doesn't reward failure, he said. The European Commission would examine a proposal to this effect in April or May, he told the newspaper. more...