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EU leaders in bonus threat
EUROPEAN leaders are today set to agree plans for greater control over bankers’ pay ahead of next week’s G20 meeting in Pittsburgh.
In a statement expected to be endorsed at an EU meeting in Brussels this evening, the leaders will call on G20 countries to stand by commitments “to encourage… a strong link between compensation and long-term performance”.
The leaders will also recommend “binding rules on bonuses backed up by the threat of sanctions”.