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Bankers look for ways round bonus caps

"Bankers and pay experts were quick to react angrily to the EU’s plan to single out banks for bonus caps. But they did not let their anger distract them from immediately looking for ways to get around the rules.

"Top bankers said their human resources departments and lawyers had straightaway started to comb the – so far scant – details of the agreement in the pursuit of ideas on how to circumvent them.