News Tag: Nicolas Sarkozy
December 16, 2009
French Finance Minister Christine Lagarde has today unveiled details of a 50% tax on bankers’ bonuses.
After a cabinet meeting today, Ms Lagarde told reporters that a bill detailing the new tax would be presented to parliament early in the New Year.
Any bonus above €27,500 (£24,000) will be taxed at a rate of 50% on payments given out in 2010, said Ms ...
France to introduce super-tax on bankers
by Kay Murchie
September 24, 2009
Prior to his departure to the G20 summit in Pittsburgh, Chancellor Alistair Darling warned bankers that the ‘party is over’ and the controversial bonus culture is set to change.
The G20 summit, which takes place today and tomorrow, is to focus on tightening global financial regulation.
The subject of bankers’ pay and bonuses are expected to feature high on the agenda at the summit. ...
Chancellor: ‘Party over for banks’
by Kay Murchie
September 21, 2009
The BBC has reported that French President, Nicolas Sarkozy, wants to introduce a levy called Tobin Tax, aimed at curbing the bonus culture in the City.
Tobin tax is the suggested tax on all trade of currency across borders and was named after the economist James Tobin in the 1970s.
The proposal was suggested by the chairman of the Financial Services Authority last ...
French President pushes for Tobin Tax
by Kay Murchie
September 15, 2009
French President Nicolas Sarkozy has called on world leaders to scrap economic growth as a measure of progress.
Measuring a nation's well-being through gross domestic product (GDP) has resulted in an economic system that is destroying more than it is creating, Sarkozy said.
The president made the comments at the launch of a report he commissioned from Nobel Prize winning economist Joseph Stiglitz.
According to Stiglitz, ...
Ditch GDP says Sarkozy
by David Masters
September 14, 2009
The Elysée Palace has today announced that French President, Nicolas Sarkozy, may walk out of the G20 summit in Pittsburgh next week unless an agreement is reached with regard to bank bonuses.
France has long been arguing that excessive bankers’ bonuses reward the risk-taking that led to the financial crisis.
At last week’s meeting of G20 finance ...
Sarkozy threatens walk-out if no progress made on bonuses at G20 summit
by Kay Murchie
October 13, 2008
The 15 Eurozone leaders have met in Paris this weekend and agreed on an emergency plan to prevent further financial institutions collapsing.
France and Germany followed the UK by spending billions of euros to guarantee loans in leading banks in a bid to fight off financial meltdown. Banks' reluctancy to lend to each other has been the main problem of the ...
European leaders meet to discuss financial crisis
by Kay Murchie
