EU's Schulz calls for review of ethics code after Barroso goes to Goldman
- Dow, S&P hit highs; Trump comment hammers drug stocks
- Unusual 11 Mid-Day Movers 12/7: (ANTH) (EMKR) (PLAY) Higher; (SIGM) (OHAI) (FTK) Lower
- Abbott (ABT) Files Complaint to Terminate Alere (ALR) Acquisition
- Western Digital (WDC) Raises Q2 Outlook
- Biotech, Pharma Stocks Weaker Amid Trump Comments on Lower Drug Prices
European Parliament President Martin Schulz speaking during a news conference after a meeting with Colombian President Juan Manuel Santos at the Narino palace in Bogota, Colombia, in this file photo dated August 23, 2016. Colombian Presidency /Handout via
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
BERLIN (Reuters) - European Parliament President Martin Schulz said the European Union should revise its code of conduct after the furor caused by former European Commission President Jose Manuel Barroso taking a job with U.S. bank Goldman Sachs, a German paper reported on Wednesday.
"We should adapt the code of conduct to make it clearer what former EU Commission presidents and EU commissioners are permitted to do," Schulz told the German newspaper Die Welt in an interview.
Barroso's successor Jean-Claude Juncker on Sunday opened an unprecedented ethics investigation of Barroso and whether he had breached a requirement to act with integrity by taking the job with the U.S. investment bank.
Goldman appointed Barroso as a non-executive chairman of its international arm in London two weeks after Britons voted for Brexit in June. Barroso said he would advise the bank on issues arising from the negotiations for Britain to leave the European Union.
Asked if the current EU ethics rules were too lax, Schulz told the paper, "They are not precise enough. It's normal when a former EU Commission president is looking for a job. No one has an issue if he writes books or teaches at a university. But it's strange that Barroso wants to advise the biggest investment bank on the Brexit issue."
Barroso has accused Juncker of "discriminatory" behavior for opening the ethics probe and said the inquiry was "inconsistent" with the treatment of other former commissioners.
(Reporting by Andrea Shalal; Editing by Hugh Lawson)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Goldman Sachs Sees 27% Upside in MercadoLibre (MELI) and Raises Rating to 'Buy'
- Bank lobby presses for commission to lead consumer watchdog agency
- NY real estate brokers sell tough security at Trump Tower as amenity
Create E-mail Alert Related CategoriesReuters
Related EntitiesGoldman Sachs
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!