EU May Discuss Salary Cap for Bankers, FT Deutschland Reports

The European Union may discuss the idea of setting a salary cap for bankers, Financial Times Deutschland said, citing a report from Othmar Karas, an Austrian lawmaker who guides work on Basel III financial regulation in the European Parliament.

Karas wrote that the idea of a pay limit “is worth discussing,” without naming an amount, the newspaper said, citing a copy of the report it obtained. In the report, the lawmaker refers to the idea of setting an absolute maximum for top salaries in relation to the average pay at an individual financial firm, FTD says.

To contact the reporter on this story: Aaron Kirchfeld in Frankfurt at akirchfeld@bloomberg.net

To contact the editors responsible for this story: Frank Connelly at fconnelly@bloomberg.net; Edward Evans at eevans3@bloomberg.net

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