The European Banking Authority (EBA) said the UK, with the Europe’s biggest financial centre in London, had more than three times as many high-earning bankers as the rest of the EU combined.
”The UK has more than three times as many high earners as the rest of Europe added together”
”The soaring number of high earners drew criticism from the Trades Union Congress, which said the increase did not reflect the economic reality for most people.
“These are staggering numbers – for parts of the banking sector, it’s like the credit crunch never happened,” said a spokesman.
“It would be easier to understand if there was evidence that the activities of the banks were supporting stronger growth, stronger manufacturing, higher productivity and better wages across the board.” http://www.theguardian.com/business/2016/mar/30/rise-number-city-financiers-uk-earning-more-than-1m
GR Comment: ‘The UK economy is as unequal now as ever. On the day that Tata announces it will close all steel operations creating 40,000 job losses, bankers lap up extra pay rises. This will be the Tory /Cameron legacy.”
GR Comment: ”Only a system hell bent on protecting the 1% can create such anomalies; and therefore the austerity drive which punishes the rest of us is a consequence of such a twisted system. Billions of euro funding has been diverted into empty tower blocks that are used for speculation, whereas it should have gone into creating real jobs and investing in quality apprenticeships for young people; who sadly walk out of lame universities with degrees that are useless, saddled with debt and spend most of their 20s and 30s as cocktail bar staff.” Fraid so.
GR Comment: ”OBSCENE INDIVIDUALS! They are incapable of manufacturing anything, educating anyone, curing anyone or discovering anything that would improve human existence on this planet. Every wan***, sorrry, I meant banker, views the city as his own personal piece of tropical paradise because nowhere else can one find so many parasites all clinging to the same money tree? OBSCENE INDIVIDUALS!”
GW: Again ask Ollie Wetlin. After all he worked for Rothschild Banking Corp and still maintains CLOSE links there as well as his duties @ Duchy of Lancaster eh wot? http://www.telegraph.co.uk/news/uknews/1448448/Letwin-quits-bank-role-after-row-over-conflict-of-interest.html
December 31, 2014