One Year's Salary Europe Caps Banker Bonuses

In a bid to address widespread public outrage over greed in the financial sector, European officials have agreed to legislation capping bankers' bonuses at a maximum of a year's salary. Great Britain fought to prevent the measure, but failed to rally enough support.
Bankers in the City of London, home to Europe's largest financial industry, will be heavily affected by the bonus cap.

Bankers in the City of London, home to Europe's largest financial industry, will be heavily affected by the bonus cap.

Foto: Corbis
kla -- with wire reports