What is the purpose of the new rules on bonuses in banking industry?

After months of negotiations, an agreement has been reached by European Union national governments and the Parliament in Brussels on new rules covering the way bonuses are awarded in the banking industry.(10)As Ben Shore reports, the aim is to make bankers think twice about taking major economic risks.
    The huge bonuses paid to some banks have been the cause of immense controversies since the financial crisis of 2008. In the UK, Sir Fred Goodwin, the former chief executive of the Royal Bank of Scotland, was seen as personified culture which rewarded irresponsible risk takers after receiving a 900,000-dollar-a-year pension despite bringing his company to the brink of ruin. The European Parliament has now agreed a tax for a law which will prevent such exceptional pension arrangements. It will also limit the amount of money bankers can receive in cash up front to 30% of the total bonus. The rest of the payments will be delayed.