Corruption

EU commission under fire over Barroso bank job

The European Commission has tried to stave off criticism after its former president, Jose Manuel Barroso, went to work with US investment bank Goldman Sachs.

It said that Barroso, under EU rules, had no obligation to notify the commission about his decision.

Commissioners are required to tell the executive if they want to take up a sensitive job within 18 months after they leave office.

..."Barroso's decision … is morally and politically deplorable”, said Gianni Pittella, leader of the Socialist and Democrats group in the European Parliament.

"After 10 years of mediocre governance of the EU, now the former EU Commission president will serve those who aim to undermine our rules and values," he added.

The Brussels-based lobby watchdog, Corporate Europe Observatory's (CEO), said the commission’s line - that Barroso acted within the rules - was "pathetic".

"Major loopholes exist in both the rules and the way in which they are implemented … there should be a mandatory cooling-off period of at least five years for former commission presidents regarding direct and indirect corporate lobbying activities," the NGO’s Nina Holland said.

She noted that nine of Barroso’s former commissioners had gone to work for big business after their terms ended in 2014.