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    EU Parliament agrees bank bonus caps

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    euronews (in English)

    by euronews (in English)

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    The European Parliament has voted in favour of capping bankers' bonuses.

    It is part of a wide-ranging new financial reform law under which EU banks will be forced to boost the cash reserves they have to hold as a cushion against economic shocks.

    The cap - which is due to come into force from the start of next year - will limit bonuses to no more than to one year's base salary.

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    http://www.euronews.net/