goldman sachs not a drug cartel
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Head Jose Manuel Barroso:

Goldman Sachs 'not a drug cartel'

Arab Today, arab today

Arab Today, arab today Goldman Sachs 'not a drug cartel'

Former European Commission President and former Prime Minister of Portugal, Jose Manuel Barroso
Lisbon - Arab Today

Former European Commission head Jose Manuel Barroso on Friday hit back at those who attacked him for taking a job at Goldman Sachs, saying with an ironic swipe that the US bank "is not a drug cartel."

"Why don't I have the right to work where I want, if it's a legal entity? It's not a drug cartel," Barroso told journalists on the sidelines at a conference at Estoril, Portugal.

"I don't accept attempts to discriminate against a financial business operating in the marketplace... and I don't accept being discriminated against myself, which is contrary to European rules."

Since Goldman announced on July 8 that Barroso would be non-executive chairman of Goldman Sachs International, the former Portuguese prime minister has faced withering criticism.

Leading the charge was French President Francois Hollande, who branded Barroso's recruitment "morally unacceptable."

Questioned about this on Friday, Barroso said Hollande had "yielded to pressure" and his remarks "did nothing to honour his office."

Barroso headed the executive arm of the 28-nation EU from 2004 to 2014. 

He oversaw membership for several former communist states in Eastern Europe and steered the Commission's response to the global financial crash and eurozone debt crisis.

Critics say his inside knowledge of EU affairs, especially in the light of Britain's shock vote to break with the Union, could lead to potential conflicts of interest.

Current Commission chief Jean-Claude Juncker launched an ethics probe into the appointment earlier this month.

He said Barroso would be now treated at the Commission as a simple lobbyist rather than with the pomp and protocol typically afforded to a former president.

Detractors of Goldman Sachs say the bank was heavily involved in selling complex financial products, including high-risk sub-prime mortgages -- an instrument that many blame for stoking the 2008 financial crash.

Critics contend the company was also key to the complex finance mechanisms that helped Greece hide the true state of its public finances in the lead-up to the debt crisis.

Barroso was prime minister of Portugal from 2002-4.

He has a supporter in the current Portuguese premier, Antonio Costa, who on September 16 called for "clarifications" from Juncker that there would be no "discriminatory treatment" of Barroso.

Source: AFP

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

goldman sachs not a drug cartel goldman sachs not a drug cartel

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

goldman sachs not a drug cartel goldman sachs not a drug cartel

 



GMT 23:04 2017 Monday ,04 December

Saudi Arabia recalls ambassador to Germany

GMT 02:47 2014 Monday ,17 November

Qatar Library to take part in Conference

GMT 18:17 2018 Friday ,07 September

US Defence Secretary arrives in Kabul

GMT 03:28 2018 Sunday ,21 January

Emirates throws Airbus A380 a lifeline

GMT 15:20 2017 Wednesday ,20 December

Oman Arab Bank launches advanced automation system

GMT 04:56 2017 Thursday ,22 June

ASEAN journalists conclude silk road media journey

GMT 08:08 2015 Thursday ,05 November

UAE media has matured, delivered remarkable successes

GMT 22:37 2016 Thursday ,17 November

Japan aims to increase food exports to GCC

GMT 08:40 2013 Saturday ,02 February

Saladin

GMT 00:12 2016 Sunday ,01 May

December 21 - January 18

GMT 05:35 2017 Wednesday ,25 October

Rio policeman who killed Spanish tourist charged
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday