The European Parliament and the EU governments have finally agreed on landmark rules capping bonus payments at the same level as the year's salary, identifying a strong correlation between bank senior management's bonuses and excessive risk-taking. However, the negotiated agreement received criticism from the industry, which claims the new rules might provoke a flight of major staff to rival financial centres. Is this a concrete risk, given the fact that the EU is pioneering this kind of regulation at the global level? Are these norms easy to circumvent, as many claim, objecting that bonuses and dividends should be automatically restricted when the solvency/liquidity ratios enter dangerous territory? And finally, does this cap have the potential to re-orient scientific talents away from finance and towards sectors providing added value for the society as a whole?
A Citizen's Controversy with
Mr Philippe LAMBERTS, Member of the European Parliament (Greens)
and
Mr Guido RAVOET, Secretary General of the European Banking Federation
The debate will be moderated by Mr Pierre DEFRAIGNE, Executive Director, Madariaga-College of Europe Foundation
The debate will be held in English.
To register, please send your name, title and the name of your organisation to info@madariaga.org or by fax to: +32 (0) 2 209 62 11.
For more information, do not hesitate to contact us on: +32 (0) 2 209 62 10.
Participation fee: € 10 / Students: € 3.Sandwiches and drinks will be provided from 12:30 onwards.