Bankers' bonus cap 'threat to EU competitiveness'

5 March 2013 Last updated at 06:01 ET Help

EU finance ministers are set to debate a controversial cap on bankers bonuses on Tuesday.

Chancellor George Osborne is in Brussels today to fight a rearguard action to revise European Union plans to cap bankers bonuses at 100% of salary - 200% if specifically approved by shareholders.

Simon Lewis, Brussels lobbyist-in-chief for the banks in his role as chief executive of the Association for Financial Markets in Europe, told the Today programme: "This is a threat to Europe's competitiveness."

"These capital rules are actually very sensible, they're helping to make the system safer and sounder."

First broadcast on BBC Radio 4's Today programme on Tuesday 5 March 2013.

Read More

BBC © 2013 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.