Banker’s bonuses checked by EBA across Europe

Keeping an eye on bankers bonuses Credit: Shutterstock

THE European Banking Authority (EBA) reacted strongly to the major losses made by banks during the time of crisis and introduced a check mechanism on all executive who earn more than €1 million a year introducing caps and delays on bonuses.

There are a total of just under 5,000 bankers in Europe, the majority of them in the UK, who enter this category but just 250 in Spain, most of whom work for Santander.

It is argued that the larger the bonus, the more temptation there is to take risks, but oversight reduces temptation.

 

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Deirdre Tynan is an award-winning journalist who enjoys bringing the best in news reporting to Spain’s largest English-language newspaper, Euro Weekly News. She has previously worked at The Mirror, Ireland on Sunday and for news agencies, media outlets and international organisations in America, Europe and Asia. A huge fan of British politics and newspapers, Deirdre is equally fascinated by the political scene in Madrid and Sevilla.

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