18 Sep 2009

Joint approach sought by EU over bank bonuses

3:34 pm on 18 September 2009

European leaders appear to be closing in on a joint approach to trying to curb bonuses paid to executives in banks and financial institutions.

They want to take a common view to next week's meeting of the G20 group of countries, which will discuss the bonuses; many believe they fuelled risky lending that sparked the global downturn.

President Nicholas Sarkozy of France is reported to be softening on a hard line he previously sought.

British Prime Minister Gordon Brown says the main goal for the Europeans is to reach some form of consensus.