The head of a British bank turned down a bonus

This came after violent social and political protests.

Last week, the Board of Royal Bank of Scotland Group Plc decided to pay Stephen Hester a bonus of 1.5 million dollars at the end of 2011. In 2008, the UK government saved the banking giant from bankruptcy by buying back 83% shares for $70 billion. Due to the financial crisis in Europe, RBS shares fell by 50% last year and about 3,500 employees are in the process of being laid off.
The decision to pay the banker's bonus amid falling incomes for ordinary Britons and cuts in public spending has sparked a wave of outrage among UK politicians.
Sharp criticism of Mr. Hester could call his tenure into question.

Based on foreign press for ForTrader.org