French consider law to limit bonuses
24-03-2009
The governing party in France says it's prepared to introduce a law to limit executive bonuses, after a public outcry over excessive awards at a time of financial crisis. A party spokesman, Frederic Lefebvre, said the government would act because the employers' federation had not. Executives at the French bank Societe Generale yesterday handed back share options after President Sarkozy said they were unacceptable while the bank relied on state funds.
