Deutsche Bank giving up bonuses

Deutsche Bank is the one of the country's largest

A senior German politician has called on the country's bank executives to follow the example of those at Deutsche Bank and give up their bonuses.

Economy Minister Michael Glos said top bankers had to show "responsibility" towards ordinary people.

Deutsche Bank's board has decided to forego their bonuses for 2008 in face of the turmoil in the banking sector.

The German parliament, the Bundestag, is due to vote on a 500bn euros ($674bn; £388bn) bank rescue package.

German Finance Minister Peer Steinbrueck has said he wants any bank that makes use of the rescue cash to limit annual directors' pay to 500,000 euros.

Deutsche Bank announced last week that it will spend 2.79bn euros on a 29.75% stake in fellow German lender Postbank, the country's biggest retail bank.