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UK challenge to bankers bonus cap rejected - Catherine Bearder

Today the Advocate General of the European Court of Justice rejected the UK's objections to the EU cap on bankers' bonuses in an opinion. A final ruling by the court on the challenge is not expected until next year.

key_money.pngLiberal Democrat MEP Catherine Bearder commented:

"This cap was introduced to prevent the kind of excessive risk-taking that led to the financial crisis.

"The arguments against the bankers' bonus cap are not supported by the public, who are still paying the costs of bankers' greedy behaviour.

"We don't want to see a return to the casino banking of the past."

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