Bank capital rules delayed after talks collapse

Last ditch attempts by the Cypriot presidency to push through EU legislation on bank capital levels and limits on bonus payments have collapsed, with MEPs and ministers still deadlocked after months of talks.

Irish officials, whose government will hold the rolling presidency from January, will now assume responsibility for brokering a deal.

Under the compromise proposed by the Cypriots, bonus payments would be capped at the same level as salaries, with bank shareholders able to wa...