It may turn out that the former chief of the European Commission, will be the first to earn on Brexit.
‘Good advice is worth gold’ – this was an assumption of an American investment bank (which in its name refers to gold) Goldman Sachs Group, Inc. and employed the former chief of the European Commission Jose Manuel Durao Barroso. There appeared uproar in Europe. Barroso was attacked with a lot of criticism. The president of France Francois Hollande defined his decision as ‘morally unacceptable’. The chairwoman of the National Front Marine Le Pen noted that ‘it was not surprising for those who know that EU serves to big finances, not people’. Others, also in Portugal, where Barroso was the prime minister, defined his behavior as ‘immoral’ and ‘without honour’. From the legal point of view, everything seems to be all right. Well, the chairperson of the European Commission, and Barroso was holding this post for 10 years, cannot undertake work in sectors marked with conflict of interests for 18 months from the end of his cadency. Our character already said farewell to Brussels 20 months ago, so, formally speaking, he can do what he wants. Indeed the 245th article of the Treaty about EU Functioning says about a duty of ‘honesty and prudence when taking over some posts’ after ending the cadency, but here there is a big space for interpretations. What raises a lot of objections is the fact that the mentioned bank has been struggling with accusations of its participation in the Greek crisis for years. It was allegedly to get profits from helping Greece in concealing its real debts. And who is Greece concealing its debts from and also absorbing EU funds? Well, from the European Commission headed by Barroso. Now the new employer compliments on him, saying that Barroso brings ‘deep understanding Europe’ into Goldman Sachs. There is no doubt about it. However, there is a problem who and why will use his knowledge, experience and understanding Europe. Barroso got employed in the bank described as ‘Government Sachs’ nearly a week after the referendum in Great Britain concerning its exit from EU. The bank authorities deny that Barroso will mainly deal with counceling about Brexit, and do not inform about the amount of his salary. However, if it is different, it may turn out that the former chief of the European Commission will be the first to earn on Brexit. Euro-enthusiasts may pay little attention to salary speculations, but they are afraid, that Barroso reactivation in the current form will destroy reputation of the European Commission and the whole EU project. And it smells with a wide inclined plane of next European ‘exits’, that is, separations.