Extracts from the debate on the G20 Summit in Pittsburgh (24-25 September), plenary session of the EP
Bankers' salaries and bonuses, the supervision of financial markets and restrictions on the size of banks are the practical issues that were discussed when the Commission and the EU Presidency made statements to Members of the EP on 16 September 2009 in Strasbourg. Ahead of the European Council's extraordinary session of 17 September 2009, to discuss the EU's position on the G20 summit, the Commission and the Swedish Presidency presented to Parliament their positions on the management of the global financial crisis.
At the G20 meeting in Pittsburgh on 24 and 25 September 2009, the Heads of 19 industrialised and emerging States, including China, India and Brazil, and the EU, will discuss the compensation packages and bonuses paid by financial institutions as well as the question of tighter supervision and regulation of financial markets. They will also look at the resources and governance of the IMF, job creation, energy efficiency, the Doha trade talks and aid to low-income countries.
The EP advocated linking bankers' bonuses to their long-term performance and discouraging irresponsible behaviour in a resolution which was adopted in April, following the G20 summit in London, and was discussed by G20 Finance Ministers in London. SHOTLISTSHOTLIST