Barnier calls for further action on bankers' bonuses

04/15/2011 | Bloomberg Businessweek

Michel Barnier, internal-market commissioner for the EU, said more action is required on bankers' bonuses to prevent "unjustifiable levels" of payouts. "I am very concerned, and I will be taking action about bonuses," Barnier told the European Parliament. "There is no justification for such bonuses when 10% of Europeans are unemployed." Barnier plans to evaluate the effectiveness of measures to rein in bonuses and then discuss additional rules with finance ministers from the Group of 20 nations.

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