Sarkozy calls French banks to account

Click to follow
The Independent Online

President Nicolas Sarkozy is to warn France's banks to stop paying big bonuses to traders.

He has summoned executives to a meeting about the issue on 25 August. In April, G20 leaders vowed to apply tough new compensation rules. Their concerns were highlighted again this week as banks published their latest results, with many posting solid profits. BNP Paribas, for example, has set €1bn (£850m) aside for bonus payments.