• Most Popular
  • Most Shared

France's Sarkozy says won't accept "crazy" bank pay

Mon Jul 6, 2009 8:06am EDT

EVIAN, France, July 6 (Reuters) - French President Nicolas Sarkozy warned on Monday against a return to the "crazy" pay practices that were current in banks before the financial crisis.

Currencies  |  Regulatory News  |  Bonds  |  Global Markets  |  France

"These crazy remuneration levels -- the more you speculated, the more you were paid...we won't accept it," he said in a joint press conference with British Prime Minister Gordon Brown. (Reporting by Estelle Shirbon; editing by James Mackenzie)



More from Reuters

Photo

Obama blames "systemic failures" in U.S. security

KANEOHE, Hawaii (Reuters) - President Barack Obama Tuesday blamed a combination of "human and systemic failures" for allowing the botched Christmas Day attack aboard a Detroit-bound U.S. airliner, in his first big test on homeland security. | Video

Leaves gather in front of an empty and boarded-up house in Youngstown, Ohio November 21, 2009.    REUTERS/Brian Snyder

Castles built on sand

Rust-belt American cities like Youngstown, Ohio were battered by the downturn. Now they're ready to move on, but it won’t be easy. The first in a three-part report.  Full Article 

REUTERS/James Saft

Welcome to the "Teenies"

Shrinking financial sector? Paltry investment returns? Welcome to the the next decade. Don't worry, there's some good news, too.  Commentary