French President Nicolas Sarkozy says EU leaders agree to impose a cap on banker pay.

France: EU calls for global cap on bank pay

BRUSSELS — French President Nicolas Sarkozy says that EU leaders have agreed to impose a cap on bankers’ pay.

He told reporters that all 27 EU nations are in “total unity” that the world cannot repeat the “scandal” of bonuses for executives and traders that encouraged banks to take huge risks.

EU leaders are meeting to decide what they will push for at talks between rich and developing nations at the Group of 20 summit in Pittsburgh, Pennsylvania on Sept. 24-25.

Sarkozy has threatened to walk out of the meeting if the United States and others won’t strike a deal to curb banking bonuses.