9 Dec, 2013 @ 14:25
1 min read

Spanish bankers hit the big time

Business Bank borrowing e

ONE HUNDRED Spanish bankers made almost €2 million in pay and bonuses this year, despite the ongoing financial crisis.

While fewest in number, Spanish bankers were the top earners in Europe, with their total average remuneration reaching €1.8 million.

The UK’s banking sector paid out an average €1.6 million each to 2,714 bankers, by far the largest number of staff.

In Italy, 109 bankers took home €1.37 million, while in France and Germany 177 and 212 bankers respectively earned around €1.3 million.

Despite pay being considerably lower than last year, the data has sparked outrage from unions who complain earnings are spiraling out of control.

But this could be the last year of big-buck payouts. The EU brokered a deal in February to outlaw banker bonuses that are more than twice fixed pay.

This will come into effect next year, the purpose being to both prevent excessive payouts and cub irresponsible risk-taking.

The UK banking sector is set to hit worst by the legislation, as its workers receive bonuses of up to four times their salary, compared to just two times more in Germany.

Claire Wilson

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  1. Quite unbelievable, whilst millions have hardly anything to eat, these people roll in the cash like bank robbers.
    If there was one thing outstanding, among others, that could destroy democracy, this is it, rotten to the core, a world-wide web of collusion to maintain grossly immoral payouts.
    If these people had any sensitivity at all they would donate at least half to charity, hardly likely as they decide on their next yacht, with a Rolls each for the kids.

  2. Some “restriction on pay” – here’s an idea – Banks RAISE the salary of Execs so 2X Base Salary = another BIG Bonus!
    We “elect” politicians who have little business experience..
    any doubt their regulations are mostly “spin” & outfoxed?

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