France to seek G-20 ban on guaranteed bonuses for bankers

Calling the practice an "absolute disgrace," Finance Minister Christine Lagarde said France will urge the Group of 20 to ban guaranteed bonuses for bankers.

"I think it is an absolute disgrace that guaranteed bonuses of several years could still be paid, or that some people are thinking of reinstating the old ways of compensating with insufficient relationship between compensation and lasting performance and risk management," Lagarde said in an interview last month with The Financial Times.