November 19th 2014The power of lobbies
Corporate Europe Observatory welcomes the announcement by European Commission first vice-president Frans Timmermans today after a college discussion on Commission president Juncker’s Transparency Initiative. It appears that earlier announced transparency obligations on commissioners to publish details of meetings with lobbyists, are now extended to also cover staff in cabinets and directors-general. This is an important step forward in providing greater transparency around the role of lobbying in EU decision-making, but further steps are needed.
Is it appropriate to let a former board member of a Deutsche Bank investment fund go straight from there to a key position in the new European supervisory structure for banks? What's the problem with hiring people with strong links to financial corporations to monitor the big banks? Or to be part of decisions on whether measures to ensure financial stability should be imposed on them or not? And can they keep working in the financial sector at the same time? If you ask the European Central Bank, there is absolutely no problem with this scenario.
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