Survey: Fraudulent bankers should be jailed

A survey conducted by YouGov/Avaaz in three European countries, France, the U.K. and Germany, shows that most people believe fraudulent bankers should be sent to jail.

Avaaz surveyed more than 3,700 people. Euronews reported the poll showed almost 90 percent of respondents in each of the three European countries think fraudulent bankers should be jailed. The majority think the bankers rather than the banking institute should be deemed responsible for transgressions and bear the appropriate punishment, according to Channel 4 News. On Tuesday Avaaz handed a petition containing 720,000 signatures, calling for strong sanctions against bankers, to the Economic & Monetary Affairs Committee. Members of the European Parliament (MEPs) voted on Tuesday that market abuse should be punished with prison sentences. However, disparity exists in sentences across the EU. Arlene McCarthy MEP, vice-chair of the Economic & Monetary Affairs Committee, said: "The EU cannot be seen to be the soft option or a safe haven for perpetrators of market abuse. That is why for the first time we are introducing EU-wide criminal sanctions," Euroactiv reported. "The Libor scandal has demonstrated that the culture in the financial sector has not changed and that they cannot be trusted to self-regulate."