ANALYST VIEWS: HOW BADLY WILL THE EU’S BONUS CRACKDOWN HURT THE REGION?
ANGELA KNIGHT | BRITISH BANKERS’ ASSOCIATION
Europe is now talking in a way which is not reflected by any other of the major financial centres. The question Europe has to ask is how is it going to keep talent and business when the other major financial centres and other G20 countries are not going in this direction?
NICHOLAS STRETCH | CMS CAMERON MCKENNA
The legislation leaves considerable flexibility to national regulators. The FSA was already planning to review its Remuneration Code this summer. The EU legislation may force its hand but there is still considerable scope for UK discretion and we hope the regulator will be level-headed.
AHOWARD WHEELDON | BGC PARTNERS
Words like ‘you made your bed, so now you lie on it’ spring to mind. I have a deep suspicion EU policymakers will soon enough know just how much damage they have done to an industry that above all others they really do need to flourish. We should expect a lot of noise from European banks