Bank’s worry about EU cap approach was justified,but don’t be surprised whether nuanced reason for UK dropping it is lost on manyHere’s one way to keep those footloose and greedy bankers in London after Brexit: appeal to their wallets by dropping the cap on bonuses, which only applies in the EU.
The Bank of England may indeed abolish the cap, or Governor sign Carney hinted on Wednesday,even whether the motivation is not vulgar opportunism but an analysis of which financial rules could be rolled back external the EU.
Continue reading...
Source: guardian.co.uk