Three MEPs were recently caught red-handed after tabling amendments to EU-legislation in return for money. This was a major scandal. But Corporate Europe Observatory has found that it is still standard practice in the Parliament for lobbyists to draft amendments – as this investigation into the Parliament's work on financial reform reveals.
The European Parliament is currently gearing up for an important vote on financial market regulation on 24 May - on derivatives. As is the army of financial sector lobbyists which has previously proved so effective in rigging votes to serve the interests of the finance industry. And once again lobbyists have succeeded in persuading MEPs to table amendments reflecting the financial industry’s interests.
Following the cash for amendments scandal earlier this year, some may have believed that a scandal of that magnitude would discourage MEPs from handing in amendments written by lobbyists. But CEO's enquiry into the upcoming vote on financial regulation shows this is clearly not the case.
