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European Parliament President Martin Schulz said:
"I deeply regret the fact that the Council has not been able to reach agreement on CRD IV. The European Parliament negotiators consider that an agreement has been reached on all aspects of the legislation including on bankers' bonuses. The cap on bonuses will make the economic system much fairer and safer.
In the Council Member States vote by qualified majority on CRD IV, there is no possible route for one Member State to block the legislation. It would appear that one Member State has severe difficulties with the agreement but the EU must press ahead and get this important legislation on the statute book. The EU must be able to live up to its commitments to international partners on financial regulation.
I agree with the European Parliament Rapporteur Othmar Karas that the European Parliament, in any case, will vote on this crucial piece of legislation during the April plenary session."