EU finance ministers set to debate banker bonus capMarch 5, 2013 - 12:55 AMT PanARMENIAN.Net - European Union finance ministers meeting in Brussels will debate the contested issue of whether to legally cap the bonuses bankers can receive, AP reports. Many EU countries favor the move, but British officials have expressed reservations. Under the proposed legislation, bankers' bonuses would be limited to one year's base salary, and double that if a large majority of a bank's shareholders agreed. The measure is part of a package of financial laws that would require all banks to hold more capital and liquidity reserves to shield taxpayers from having to pay for more expensive bailouts. It would also lay the groundwork for a single banking supervisory mechanism for the eurozone. The finance ministers won't hold a formal vote Tuesday, March 5, because technical details of the law package must still be finalized. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | The Power of One Dram to benefit Road of Life charity The companies inform that the May beneficiary of The Power of One Dram is the “Road of Life” charitable organization. Ucom General Director gives lecture at French University in Armenia The General Director of Ucom Ralph Yirikian delivered a lecture at the French University of Armenia. Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty. Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. |