European Commission to probe McCreevy

Ulster-Lad

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The European Commission is investigating the appointment of former Commissioner Charlie McCreevy to NBNK Investments, which is buying up distressed banking assets.

It is examining whether Mr MrCreevy's involvement poses a conflict of interest and whether the appointment falls within the Commission's Code of Conduct.

Last week, the European Parliament's Budget Committee voted to freeze the salaries and allowances of European Commissioners unless urgent changes are made to the Code of Conduct.
European Commission to probe McCreevy appointment | BreakingNews.ie

I wonder how long their probe will take and what they come up with? Is gombeenism in there some where?
 


FakeViking

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Former Commissioner who championed deregulation is now involved with a company "buying up distressed banking assets". This sounds like the plot from a bad first novel.
 

Ulster-Lad

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NBNK is thought to be considering a move for AIB's UK operations, which may be sold in the coming months.

McCreevy joined the board of NBNK, headed up by the former Lloyds chairman Lord Levene, just before it floated on London's Aim market in August. The company raised close to E60m in working capital when it floated.
BUSINESS WORLD - EU probes McCreevy's new bank job

Do they really think he may know anything about AIB?
 

Ulster-Lad

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bump
 

ibis

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Won't work, Lad - you've confused the eurosceptics, because they're also nearly all ABFFers and anti-elitists. There's a narrative problem - the conflict of interests here makes it almost impossible for p.ie's usual black and white support groups to latch onto the story.
 

WTTR

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Former Commissioner who championed deregulation is now involved with a company "buying up distressed banking assets". This sounds like the plot from a bad first novel.
Don't forget the definition of an "honest politician"?
 

MPB

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Former Commissioner who championed deregulation is now involved with a company "buying up distressed banking assets". This sounds like the plot from a bad first novel.
Why has more attention not been paid to this fact?

Banking deregulation was an EU directive. Banking regulation was in the charge of the ECB. Any Banking problems caused by deregulation are the responsibility of the EU and the ECB and not the Irish Taxpayer.
 

Passer-by

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Why has more attention not been paid to this fact?

Banking deregulation was an EU directive. Banking regulation was in the charge of the ECB. Any Banking problems caused by deregulation are the responsibility of the EU and the ECB and not the Irish Taxpayer.
IFSRA was responsible for regulating the banks in Ireland. No point in blaming the ECB because they were asleep at the wheel.
 

Anorakphobia

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I wouldn't be surprised if this has legs.
Most comment I have heard suggests he was loathed in Europe, they being clever enough to spot within weeks what we didn't in 30 years.
Namely that he is a talentless, lazy, short cutting spoofer.
So the will might be there to pursue this.

A gobdaw of the highest order and would be recognised as such but for the fact that Ahern was even worse.
 

Pauli

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I wouldn't be surprised if this has legs.
Most comment I have heard suggests he was loathed in Europe, they being clever enough to spot within weeks what we didn't in 30 years.
Namely that he is a talentless, lazy, short cutting spoofer.
So the will might be there to pursue this.

A gobdaw of the highest order and would be recognised as such but for the fact that Ahern was even worse.
He was definitely disliked intensely in Germany for two reasons. His hubris in telling the Germans to modernise their economy to make it more like Ireland's was seen as the fatuous nonsense that it was. Then, as European Commissioner, he managed to piss themn off again by trying to regulate Bausparkassen (a German mortgage bank construct) out of existence against the will of the Germans. As you say, Anorak, this could have legs.
 

dalywise

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I wouldn't be surprised if this has legs.
Most comment I have heard suggests he was loathed in Europe, they being clever enough to spot within weeks what we didn't in 30 years.
Namely that he is a talentless, lazy, short cutting spoofer.
So the will might be there to pursue this.

A gobdaw of the highest order and would be recognised as such but for the fact that Ahern was even worse.
I cannot for the life of me figure why O'Leary or others would give this useless waste of space tons of money for a few hours attendance at a meeting once a month. A complete bluffer but whose image was bolstered by a few sycophantic journalists while he was Minister for Finance (and while he was undermining the whole edifice with his gombeen policies).
 

Eye of Angkor

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Best news heard to-day.

The pity is that he is not being investigated with a view to being put on trial here for sabotaging the economy of Ireland.
 

MPB

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IFSRA was responsible for regulating the banks in Ireland. No point in blaming the ECB because they were asleep at the wheel.
The ECB are responsible for the overall Governance of the European Banking system.

IFSRA were responsible for regulating the Irish Banks and were therefore responsible for not seeing/ or encouraging the type of behaviour that saw Sean Fitzpatrick hide personal loans and ILP transfer 7 billion to Anglo in an attempt to prop up its balance sheet.

The EU were responsible for the deregulation and the introduction of light touch regulation that allowed Private German and French Banks to lend to Private Irish Banks to fuel a property boom.

It was this decision to deregulate Europes Banking system and to pursue a policy of light touch regulation that allowed Irish Banks to build a balance sheet bigger than that of the Irish Economy.

The responsibility for recompensing Europes bondmarkets lies with the ECB not with the Irish Taxpayer.
 

toetoe

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mccreevys smug mug

While the are at it they should investigate McCreevy for his introduction of decentralisation.This was a back of the envelope scheme concocted with the help of Parlon for party political purposes and is now now a complete waste of money and a failure.If there are any whistleblowers in the department of Finance they might leak the circumstances of this and retrieve some of their lost respect.This is an encouragement to break the official secrets act.
 

CookieMonster

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Former Commissioner who championed deregulation is now involved with a company "buying up distressed banking assets". This sounds like the plot from a bad first novel.
He was the Commissioner for Internal Markets, he didn't have any role in regulating Irish banks.
 

stanley

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While the are at it they should investigate McCreevy for his introduction of decentralisation.This was a back of the envelope scheme concocted with the help of Parlon for party political purposes and is now now a complete waste of money and a failure.If there are any whistleblowers in the department of Finance they might leak the circumstances of this and retrieve some of their lost respect.This is an encouragement to break the official secrets act.

Excellent idea and perhaps someone will spill the beans on his negative equity property at the K Club, hate to think Fingers gave him preferential treatment on his 100% + mortgage.
 


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