Fat cats getting fatter? British bankers top European bonus league
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More than 2,700 City bankers pocketed more than one million euros in compensation last year, according to newly released figures from the European Banking Authority.
Britain led the ranking for the highest paid with 12 times as many bankers earning more than one million euros (approximately £833,364) than any other country in the European Union.
In Germany, Europe's largest economy, only 212 bankers made more than million euros, followed by France, 177, and Italy, 109.
Spain, where the financial sector has been marred by massive losses in the housing market forcing the country to request a 39.5 billion bailout in 2012, saw 100 bankers receiving a hefty pay check.
Overall, 3529 bankers were paid more than one million euros of which 2714 were from the UK -signalling an 11 per cent from the previous year.
The announcement comes as Britain and the European continue to quarrel over proposals to limit bonuses across the euro zone. Under the new set of rules from Brussels, bonuses will be capped at 100 per cent of annual salary, or twice the amount if approved by shareholders.
In response, the UK has filed a lawsuit against the European Parliament and its member states over the controversial cap, arguing that reducing compensation won't make the banking sector safer and could see the City of London losing its competitive edge over rivals on Wall Street as a global financial centre.
The Luxembourg-based European Court of Justice is yet to make a decision.
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