Bankers and politicians

The leaders of Europe’s three largest nations, Britain, France and Germany, called on Thursday for “binding rules” to rein in bankers’ bonuses as G20 finance ministers prepared to meet in London this weekend. A joint letter from the UK’s Gordon Brown, Germany’s Angela Merkel and France’s Nicolas Sarkozy signalled that Europe is uniting behind specific proposals to link the size of bonuses to fixed pay and to bank performance over long periods. The three leaders also came out in favour of deferring awards and clawbacks in case of negative outcomes.

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What's brewing?

We read something interesting.
It was coming from tiny Belgium where the Minister of Foreign Affairs basically said in a speech to his diplomats that a new era is coming. A new Bretton-Woods is prepared to enter centre stage in a couple of months.
Maybe he’s right.
Look around. Political activity is very high. Obama is travelling like mad all over this planet, and one can say that this is only normal after his inauguration, the reception is always very warm and enthusiastic.
And I remember that the G20 produced something very tangible. Not a general vague declaration, but something as a blacklist of countries which are messing up with their taxes.
Very strange indeed.

Yes, maybe something big is coming up.

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