For the first time in history, the European Union has agreed to cap bankers' bonuses. The accord is part of new stricter rules on banking in the wake of the financial crisis. Bonuses will be limited to a year's salary
Shares of Deutsche Bank and Credit Suisse have been dropped from the prestigious Stoxx Europe 50 share index. Is European banking in decline? And if so, what are the factors that led to its current parlous state?
The EU Commission has urged the bloc's banks to comply with new rules on staff bonuses or face punishment. A probe by its EBA banking watchdog has found out that many banks dodge the rules with unlawful handouts.
Regulators have put forward a new set of rules to ensure bank creditors instead of taxpayers foot the bills for banks deemed "too big to fail." The proposal was crafted to prevent a repeat of the 2008 financial crisis.
The main players in the British election campaign have clashed on issues including debt, public spending and immigration - but largely avoided talking foreign policy. The vote, set to be a close-run affair, is on May 7.
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