Goldman Sachs may regret Barroso appointment as allegations fly

Former Portuguese Prime Minister, José Manuel Barroso, has complained to the European Commission of ‘discriminatory treatment’ in the current feud over his lucrative appointment at Goldman Sachs.

The former European Commission President said today that recent statements from the Commission are discriminatory, and that they affect himself and his new employer.

In a letter to Jean-Claude Juncker who is the current president of the European Community executive, Barroso points out that "it has been argued that the mere fact of my working with Goldman Sachs raises integrity issues," adding that while "everyone has the right to their own opinion, the rules are clear and should be respected," which Barroso considers not to have been the case.

"These allegations are unfounded and are absolutely unfair. They are discriminatory against myself and against Goldman Sachs," wrote Barroso in a letter leaked to the Financial Times.

Last week, Juncker responded to questions raised by the EC ombudsman, Emily O'Reilly, on the nomination of Barroso as a non-executive director at Goldman Sachs International advising on Brexit. This followed a well supported public petition against Barroso's appointment.

Juncker yesterday reported that an ethics committee will review the contract celebrated between the former President of the Commission and the Great Vampire Squid, Goldman Sachs.

Juncker also stated that Barroso should be received in Brussels like any other lobbyist rather than by rolling out the red carpet and giving him easy  access to former colleagues.

Barroso pointed out that in principle, he has no objection to an analysis by the ethics committee but is concerned that it sounds like the decision on his status "already has been taken."

"If this is the case, I would like to understand how this decision was made, by whom, and on what basis," writes Barroso, who stresses that "not only are those actions discriminatory, they appear to be inconsistent with decisions taken in relation to other former members of the Commission."

Barroso went to Goldman Sachs after the obligatory 18 months 'end of office' cooling off period but managed to provoke accusations of cronyism and cashing in when his new employed was revealed to be Goldman Sachs.

European Commission rules also dictate that any former high-ranking employee should “behave with integrity and discretion” once they have retired or moved on.

Barroso’s post-presidency income is now around €5 million a year as the revolving door between politics and big business continues to spin.

Goldman Sachs may yet find they have bought a pup if Barroso ends up unable to walk through the EC's doors to access key decision makers.

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