Friday 10 October 2008

Global Gordon

The Prime Minister writes in The Times, arguing that the British plan to rescue the banking system should be emulated internationally as he seeks to "lay down the principles and the new policies for restructuring our banking and financial system all around the globe".

Both party leaders are also now toughening their language on the issue of bonuses and executive pay after the bailout. Brown said yesterday that "the days of big bonuses are over. One of the conditions of us helping the banks is that we will have to reach an agreement about their executive remuneration"

It will be interesting to see what that might mean in practice.

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