The news that Prime Minister, David Cameron, intends to 'fight' EU plans to cap bankers bonuses is perhaps not surprising. He failed to take any action or position on excessive bonuses two years ago. It simply demonstrates that his hand wringing over excessive bonuses bankers give themselves is just that, gesture politics. The government are concerned that a cap on bonuses would affect the position of the city of London as a financial centre competing for top talent globally. But this is why action must be taken at an international level and the EU move is a step in that direction. Precisely what level the cap should have and what conditions should be subject to debate and decision. There is always the argument that if you seek to restrict greed, and it is greed, then the wealthy will find other ways to satisfy their avarice. We mustn't increase taxes, else they will move their money elsewhere etc. We cannot go on allowing these greedy people to blackmail us in thi...
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