Hol­lande crit­i­cizes Bar­roso’s job de­ci­sion

Kathimerini English - - Focus -

French Pres­i­dent Fran­cois Hol­lande yes­ter­day be­came the most se­nior critic to date of for­mer Euro­pean Com­mis­sion chief Jose Manuel Bar­roso’s de­ci­sion to take a job at the in­vest­ment bank Gold­man Sachs. Hol­lande noted that Bar­roso was run­ning the Euro­pean Union’s ex­ec­u­tive arm at the time of the US sub­prime home loans cri­sis, which has been blamed for the 2007-08 global fi­nan­cial cri­sis. He said Gold­man Sachs was “one of the main in­sti­tu­tions” in­volved in sell­ing sub­prime debt, and also noted the US bank’s role help­ing Greece es­tab­lish cred­i­bil­ity about its fi­nances in the early 2000s. Wor­ries about Greek debt later rocked the cur­rency bloc. “It’s not about Europe, it’s about moral­ity,” said Hol­lande in his an­nual in­ter­view to mark Bastille Day, France’s na­tional day. “Legally, it’s pos­si­ble, but morally, it’s about the per­son, it’s morally un­ac­cept­able.”

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