A meeting of European finance ministers saw many participants calling out for an end to the pervading culture of bonus incentives that has traditionally motivated bankers worldwide, according to Reuters. At a meeting in Brussels, financial representatives from the Eurozone—the 16 countries that use the Euro—spoke against the culture of bonuses. “The bankers are partying like it’s 1999, and it’s 2009,” said Swedish Finance Minister Anders Borg. “The bonus culture must come to an end and it must come to an end in Pittsburgh.” The Group of 20 is set to meet in Pittsburgh on September 24 and 25.
EU Ministers Lambast Bonus Culture
Members of the European Union are calling for an end to the global bonus culture.
September 3, 2009