G-20 Pittsburgh: EU Tries to Tame Wall Street Bulls

Summit conclusions: http://www.consilium.europa.eu/uedocs/cms_Data/docs/pressdata/en/ec/110166.pdf EUX.TV news report on the EU Summit in Brussels, where the leaders of the 27 member states, led by Sweden and its Prime Minister Fredrik Reinfeldt, are preparing a common position ahead of next week's G-20 talks in Pittsburgh on the global financial crisis.


Script:

This statue in Europes capital Brussels symbolizes the myth of the Goddess Europa and the bull.

The bull is also seen a symbol for the billions in profits that have been generated on Wall Street and in the rest of the global financial sector.

These excessive profits and the global meltdown that followed two decades of greed now are leading to stricter regulation on a global scale.

Ahead of the G20 talks on the financial crisis in Pittsburgh, the 27 European countries united in the European Union propose to cap excessive bonuses that bankers started paying again in recent months.




Reinfeldt

Buzek

Europe wants the financial watchdogs worldwide to be able to retroactively slash bonus payments and to force managers to keep high-risk speculation under control.

Merkel

The European proposal is likely to meet resistance in Pittsburg. The White House already has ruled out a fixed cap on bonuses.

At the same time, Europes presidents and prime ministers want the US to pump extra money into the fight against climate change ahead of crucial United Nations December talks in Copenhagen.

It all means the European bonus plan will become part of a complex mix of diplomatic trade-offs and international political dealmaking during the coming weeks.

But for now at least, its clear that the EU is ready to act, and grab the Wall Street bulls by the horns, or elsewhere....



Raymond Frenken, EUX.TV in Brussels.

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[hdl13]

If I could live on what I take home after paying taxes I wouldn't have a problem with it. But I pay so much in taxs and stay right above the poverty line. It doesn't give me much room for suprises like more taxs, gas prices or medical emergencies. Sorry but I don't like taxs in any form.

[EUXTV]

i know the feeling. As a European entrepreneur I can empathize fully. But was has this to do with the plan to attack bonuses? Nothing. It's in part because of the Wall Street shenanigans caused by excessive bonuses that you and I will continue to pay high taxes in the future.

[barneysixx]

@aviomaster i dont think g20 will fucking do shit

it still gonna be the same

[aviomaster]

USA is in deep shit ....

[canadakim1]

CANADA HOSTS G20 IN 2010. COME TO CANADA!!!

IT WILL BE IN HUNTSVILLE ONTARIO CANADA - APROX 3 HOURS FROM TORONTO.

THE G20 WILL RUN FROM JUNE 24-27

FRIEND ME AND I WILL FIND YOU FREE PLACES TO STAY!

NEXT YEAR WE WILL SIT - LIKE A 1960's "SIT-IN"

SING SONGS OF PEACE - LETS SEE HOW THEY HANDLE THAT!!!

[salpety]

Stop NWO

[Oahspe93]

IN A DICTATORSHIP: There is no choice, the elections are controlled, the police are the military, fear equals control, speech is suppressed, the economy is looted, the people are slaves...

P.S. -- Yootube sucks ;)

[ProtestSpp]

The "Excessive profits" - generated off the backs of working people world wide. What is the solution? Wage equalization payments from the CEOs to the workers who do the most labor and get payed the least. Trickle that down.

[NicoLatinox]

is fredik reindfelt a freemason ?

[Athenaikos]

Did I get this right? He wants to grab the bull not by the horns but "some place else"? Oh, my!