BERLIN, Aug 26 (Reuters) – Germany and France want G20 nations to reach an agreement on tougher rules governing bonus payments in the financial sector, German Finance Minister Peer Steinbrueck said in an interview published on Wednesday.
Financial Regulatory Forum
By Laura Macinnia and Patricia Zengerle
(GENEVA/SHINGTON, July 6 (Reuters) – World economic leaders called on commercial banks on Monday to step up lending to revive an economy pitched into recession by failure of the global financial system. The World Bank, in a letter to Group of Eight nations due to meet this week, said interventions by central banks and governments appeared to have “broken the fall in the global economy,” but 2009 remained a dangerous year.
EVIAN, France, July 6 (Reuters) – French President Nicolas Sarkozy warned against a return to the “crazy” pay practices that were current in banks before the financial crisis. “These crazy remuneration levels — the more you speculated, the more you were paid…we won’t accept it,” Sarkozy said in a joint press conference with British Prime Minister Gordon Brown. (more…)