Bank bonuses 'to run to billions in 2011' - reports

The coalition's best hope is banks promise they will pay out less than they would have without government intervention, and open up lending to small businesses, according to the BBC. In stark contrast, in December the Irish government banned Allied Irish Banks from handing out €40m to staff in bonuses, saying it would turn off state aid if the pay-outs went ahead. Business Secretary Vince Cable told the BBC last month the coalition government was "fully signed up" to "robust action" in curbing UK bank bonuses. But there are even questions about any declaration by the banks that the...