Bonus Cap To Turn U.K. Bankers Against EU

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European Union plans to curb bankers’ bonuses will push those working in London’s finance industry to join the campaign for Britain to quit the bloc, a leading euroskeptic Conservative Party lawmaker said.

'There are those in the euro system who can’t quite forgive the success story that is the City of London, and these spiteful proposals are deliberately designed to harm a U.K. national interest', Douglas Carswell told Guy Johnson on Bloomberg Television’s The Pulse Wednesday. 'I have advocated that the United Kingdom should withdraw from the European Union, and I think that message will now resonate with a lot of bankers'.

Bloomberg reports that EU finance ministers wrangled with U.K. Chancellor of the Exchequer George Osborne this week over the proposal, which says bonuses can’t be bigger than salaries unless certain conditions are met. The pay rules were a late addition to wide-ranging EU legislation on how it will apply global rules to strengthen bank capital requirements.

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