EU bonus cap will lead to ‘more job losses in downturns’

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EU bonus cap will lead to ‘more job losses in downturns’

A tight cap on bankers’ bonuses, agreed by EU policymakers late last night as part of a provisional accord on new capital regulations, may not encourage good behaviour as hoped and will simply drive up fixed costs at banks, potentially leading to more firing during downturns, bankers told EuroWeek Bank Finance on Thursday.

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