March 1st, 2013
04:53 AM GMT
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(CNN) – The European Union has pushed through legislation that caps banker bonus at two times a banker’s salary, which has drawn an angry reaction from the city of London Mayor Boris Johnson, who calls the cap will help Wall Street and Singapore, drawing financial talent away from the City. "This is possibly the most deluded measure to come from Europe since Diocletian tried to fix the price of groceries across the Roman empire," Johnson said.

CNN’s Richard Quest explains the ramifications of the move.

Filed under: Quest Means Business


soundoff (8 Responses)
  1. bob

    Bankers and financiers are living beyond their means, while all the other industries are paying for it. Why should a good banker be paid 1000x more than a good engineer.

    March 1, 2013 at 9:45 am |
  2. kikisnl

    Let the truth be told!

    March 23, 2013 at 12:36 pm |
  3. m.s.mohamed ansari

    16-08-2013
    M.S.MOHAMED ANSARI

    100% I CANT RECOVER GLOBAL ECONOMY WITHIN 3 DAYS IF YOU ARE ABLE TO CONTROL THE MEDIA AND PRESS AS PER MY DIRECTION

    THANKING YOU

    August 16, 2013 at 3:09 am |
  4. m.s.mohamed ansari

    Please ignore war save the global economy this questing is money
    Please tell me correct answer 10
    1. Who will control by global .queen or press media
    2. Big mistake Iraq war. Intelligent agency or global leader
    3. Press and media work created news or natural news
    4. All Arabs country leader in shia . law is sunny so major population sunny Islam not allowed kingdom
    5. Election. Pooling system or designing world
    6. All bank financing system control by each country reserve bank or Microsoft
    7. All country was democracy or again British control
    8. World censor board somebody control or no
    9. White house functions indojowal or house of command. Hose of lord
    10. in future human right policy .each every country equal currency and open emigration policy all country

    August 30, 2013 at 9:07 am |
  5. toby h

    His voice sounds all gruffy like he smoked lots of tobacco.

    January 4, 2014 at 5:31 pm |
  6. Mr Fisher

    I live within my means, work hard, save, and have enough to play the stock market. Wow, if I brought a big car and a big house on credit, and something happens to me, I really can't blame the bank for that debt.

    January 20, 2014 at 6:02 pm |
  7. NYC fitness events

    I agree with the mayor!

    "London Mayor Boris Johnson, who calls the cap will help Wall Street and Singapore, drawing financial talent away from the City"

    February 1, 2014 at 6:46 pm |
  8. obainocj

    Bankers. Said u. S. Would be increases without dollar ok let See what is going to happen ok.

    February 11, 2014 at 10:24 am |

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About Quest Means Business

Quest Means Business airs Monday to Friday, 1600 New York and 2100 London, and is hosted by Richard Quest.

 

 

 
 
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