From Dealbook/The Financial Times comes this news (need a subscription to FT for the full article. I dont have one:
The EU is considering limiting the bonus amounts in finance, both for banks operating in the EU, and EU-based banks worldwide. I think it only applies to managers and people in risk-taking positions. Is it just me, or does this represent a serious threat to the payday that every banker desires? This would seem to be a pretty socialist step for the EU. After all, no one is gonna work 100hrs/week for free!
What are everyone's thoughts on this? I can't tell if this would have a big effect or not, and how likely it is to be passed.