You know, they might have fired too many of their sub-editors. And I say this not simply because I know two who have left:
French Prime Minister Nicolas Sarkozy, one of the staunchest proponents, has admitted he would be willing to accept an agreement that does not include bonus caps.
I rather think he elevated from the Matignon to the Elysee didn\’t he?
On the subject of limits to bankers pay I see that the deal is likely to end up as what the banks are already doing. Bonuses to be paid in shares which vest over a period of time.
Politicians get to claim a victory and markets have already beaten them to it.