Brussels, 05/07/2011 (Agence Europe) - Commissioner for the Single Market Michel Barnier has announced that he is working on drafting new rules to restrict banking bonuses further. “The citizens, of whom many efforts have been asked, must feel that these efforts are fair as well as necessary. This is why I was very pleased (…) that just a few days ago, the Commission was able to propose the creation of a financial transaction tax, and it is also why I am currently working on a new framework for certain bonuses and salaries which are neither justifiable nor inexplicable under these circumstances”, he said on the evening of Monday 4 July at the debate of the plenary session of the European Parliament on rules for derivative financial products (see other article). These new European rules on bonuses awarded to bankers would come in addition to those already in force to limit excessive risk-taking, by creating a link between the payment of the variable proportion of a salary and the company's medium-term performance. (M.B./transl.fl)