Sarkozy says G20 bonus deal possible without caps

September 17, 2009

French President Nicolas Sarkozy speaks during a news conference at Alvorada Palace in Brasilia September 7, 2009.  REUTERS/Bruno Domingos (BRAZIL POLITICS)    BRUSSELS, Sept 17 (Reuters) – France is ready to accept a G20 agreement on bonuses that does not include caps as long as other measures to curb bonuses are adopted, President Nicolas Sarkozy said on Thursday.
   He said it was a sticking point for U.S. President Barack Obama in talks over reform of the bonus system.
   “The point which poses a problem is the overall limit of the size of the bonus. It is not a problem in the framework of the European position,” Sarkozy told a news conference after European Union leaders met in Brussels.
     “But if we have precise engagements on all of the rest, a penalty on bonuses, bonuses paid over time, transparency at the time the bonus is decided, the extremely important question of capital levels … we will be able to find an agreement. Those are the points we are discussing at the moment.” 
   ((Reuters Messaging:; +33 1 49 49 5339;
 Keywords: G20/EU SARKOZY 
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 Thursday, 17 September 2009 21:26:30RTRS [nLH20701] {EN}ENDS

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