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| Economy |
| Brown: G20 to agree global rules on bankers' pay |
| 2009-04-01 |
| G20 leaders meeting in London this week will seek to agree global rules on remuneration in the banking sector, British Prime Minister Gordon Brown said on Tuesday. "You will find on Thursday at the G20 that for the first time ever, the world economies will agree international rules for the remuneration of bankers," he said two days before the crunch summit. "In other words, every country will sign up to a set of rules that we and others will apply to the banking system," he added, after giving a speech calling for a sense of morality to be restored to the global financial system. "The difficulties in the past have led to us agreeing that there will be global rules in this area for the future," he added. Brown will play host to United States President Barack Obama and his counterparts from the Group of 20 leading developed and developing countries at Thursday's summit. The British leader emphasised the need for regulation to have a moral dimension during a pre-summit speech at London's historic Saint Paul's Cathedral, alongside Australian Prime Minister Kevin Rudd. Rules for bankers' pay was part of this, he said. "Just as we are eliminating tax havens, we are trying to eliminate these bad practices by insisting that there are global rules and not simply rules that apply to one country and can be undermined in the next," he said. |
| Posted by:Fred |
| #3 So bankers will go into another line of work where they can earn all the money they want, and the dregs will be left to run the banks further into the ground. Your gummints at work.... |
| Posted by: Barbara Skolaut 2009-04-01 21:54 |
| #2 I thought the G20 were 20 nations. I didn't know they controlled the world. Imagine that, the whole world. |
| Posted by: AlmostAnonymous5839 2009-04-01 14:04 |
| #1 Does Zim Bobs Way also sign? |
| Posted by: Redneck Jim 2009-04-01 10:45 |