Bloomberg News

German Politicians Demand Salary Caps for Bankers, Bild Says

October 15, 2011

Oct. 15 (Bloomberg) -- German politicians want caps on salaries for bankers whose companies may need government help, Bild newspaper said, citing comments made by lawmakers.

Cem Oezdemir, the Greens co-leader, demands a salary cap and wants no dividend payouts or bonus payments until potential government aid has been repaid, the newspaper said.

Carsten Schneider, budget spokesman for Germany’s main opposition Social Democratic Party, wants a salary cap of 500,000 euros ($692,400) and a higher tax on bonus payments, according to the newspaper.

Florian Toncar, a member of the Free Democratic Party in Chancellor Angela Merkel’s coalition, is also cited in favor of a salary cap.

--Editor: Kim McLaughlin

To contact the reporter on this story: Richard Weiss in Frankfurt at rweiss5@bloomberg.net

To contact the editor responsible for this story: Benedikt Kammel at bkammel@bloomberg.net


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