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How a freshman Green MEP capped banker's bonuses and reminded everyone where the power in Europe is (ft.com)

"The politics are now so advanced that bank chief executives, David Cameron, George Osborne and the Westminster parliament are all pretty much helpless to stop it. Mr Lamberts’ victory is not only reshaping how banks operate, it is providing a lesson to all in where power lies in Europe."

"Howls of protest are rising over the City. Senior bankers are shocked, nervous and struggling to assess its implications. “We don’t know what we are going to do yet,” said one executive at a big US bank. “Should we move operations to Switzerland or Dubai? We would think about it, but it isn’t that easy to move staff.”

1 point by rafweverbergh over 4 years ago | 0 comments