Taoiseach rejects UK objections to bank bonuses cap

The Taoiseach dismissed British objections to a cap on banker bonuses, saying that London was always likely to take a different view to the rest of the EU on the matter.

The Taoiseach’s comments came as London mayor Boris Johnson lashed out at a EU cap on bankers’ bonuses, saying the move will shunt banking business away from the City of London and towards Zurich, Singapore, and New York.

Bankers in Europe face a cap on bonuses as early as next year, following a provisional agreement in Brussels to introduce the world’s strictest pay curbs.