Bankers Not Hearing Calls for Bonus Restraint, Barnier Tells FT

European Union Financial Services Commissioner Michel Barnier said some bankers haven’t heard “the calls for moderation” on bonuses and “haven’t understood” the importance of the issue, the FT reported, citing an interview.

The application of new EU-wide rules governing bankers’ bonuses “hasn’t been adequate,” Barnier also said, the FT reported. Barnier plans to address the issue, firstly, through the EU, which will be studying whether the new rules were applied correctly, and secondly, through France’s presidency of the Group of 20 leading economies, where Barnier said he intends to “pose questions to finance ministers,” according to the FT.