Goldman job described as 'morally unacceptable'

Goldman Sachs Blink

Jose Manuel Barroso’s decision to join Goldman Sachs is “morally unacceptable,” French President Francois Hollande said, adding to criticism of the former European Commission president’s decision to work for the investment bank.

Bloomberg News reports that Hollande, asked about Barroso during his annual Bastille Day television interview on Thursday, said Goldman Sachs was implicated in the financial crisis that began with U.S. sub-prime mortgages and in helping Greece cover up its debt.

“And we find out several years later that Mr. Barroso will join Goldman Sachs,” Hollande said. “It’s legally possible but it’s morally unacceptable.”

The bank said on July 8 that Barroso, who headed the European Commission from 2004 until 2014, will serve as non-executive chairman of its international unit and help advise on international issues. Those could include the fallout from Britain’s vote to leave the European Union. Barroso, 60, was prime minister of Portugal prior to his EU role.

To access the complete Bloomberg News article hit the link below:

Hollande Calls Barroso’s Goldman Sachs Job Morally Unacceptable

Deutsche Boerse Investors Poised to Back LSE Deal by End of Week

JefferiesAnd the Best Place to Work in the global financial markets 2017 is...

Register for Financial Markets News Alerts