EU seeks answers on official’s links
Former regulator failed to declare interest in Bahamas firm when in office
The EU yesterday said it was seeking answers from Neelie Kroes, a former top competition regulator, as to why she had failed to declare an interest in a Bahamas-based firm when in office.
The Commission, the EU’s executive arm, was responding to embarrassing revelations made by the International Consortium of Investigative Journalists that showed Kroes had been a director of Bahamas-based Mint Holdings Ltd between 2000 and 2009.
“The Commission was not informed about this and is now seeking clarification from her,” said Margaritis Schinas, spokesman for Commission head JeanClaude Juncker.
“We have strict rules in place and it is important that these rules are respected by all who serve,” Schinas said, adding that Juncker had sent a letter to Kroes.
The revelations about Kroes stoked fresh uproar after former European Commission chief head Jose Manuel Barroso took a high-profile job with US investment bank Goldman Sachs, widely blamed in Brussels for its role in the 2008 global crash and Eurozone debt crisis.
Barroso’s appointment met howls of protest that while he may have complied with the EU’s 18-month separation rule, he would still be privy to sensitive information about the European Union.
“The Commission must be able to trust in the accuracy and completeness of the information provided by our commissioners,” said Schinas, adding that even the toughest rules would have failed to stop the actions of Kroes or Barroso.
Juncker said last week he opposed Barroso joining Goldman Sachs but saw no problem if he had chosen to work for another bank.
Juncker himself has been under pressure since the 2014 LuxLeaks scandal revealed that Luxembourg had cut sweetheart tax deals with major firms during his 19 years as prime minister.
The Commission has since embarked on a major campaign to halt tax avoidance schemes and to open up tax havens such as the Bahamas to international scrutiny.
Kroes was EU Competition Commissioner 2004-09 during which time she earned a reputation as a tough nononsense enforcer, ready to take on some of the biggest companies in the world.
EU code of conduct rules state “commissioners may not engage in any other professional activity, whether gainful or not.”