More British bankers were paid more than a million euros (£860,000) each in 2011 than the rest of the European Union (EU) combined, according to the European Banking Authority (EBA).
The Institute of Economic Affairs (IEA) is holding a competition to find the best plan for a 'Brexit' - a UK exit from the European Union.
European Union lawmakers have narrowly rejected a proposal to cap fund mangers' bonuses, a decision which if approved would have blocked payouts from exceeding annual salaries.
It is "inevitable" Italy will need an EU bailout in the next six months, according to analysts at the country's second largest bank.
GDP data published for Q4 2012 afforded a slightly better perspective on the year as a whole.
EU proposals to limit fund manager bonuses have been met by a withering reaction from the asset management industry.
The European Union has launched a competition to find the latest dangerous financial product, in an attempt to unearth the next mis-selling scandal.
Credit rating agency Moody's Investor Services has downgraded its rating of the European Stability Mechanism (ESM) - Europe's bailout fund - because of increased concerns over the financial health of France.