Santer's return: like putting Dracula in charge of the blood bank
Posted, January 24, 2012 @ 11:00
The return of Jacques Santer - the head of the European Commission forced to resign en masse because of financial malpractice - to head the bailout fund's leverage vehicle, is akin to putting Dracula in charge of the blood bank, Martin Callanan MEP, European Conservatives and Reformists group chairman, said today.
Last night, Eurozone Ministers reached agreement on the voting rights within the European Financial Stability Facility after Finland forced a compromise that would see unanimity within the Eurozone for decisions that increase Member States' contributions to the mechanism, and majority voting on authorisation of existing funds.
However, it was personnel decisions that raised eyebrows, with the former Luxembourg Prime Minister being appointed to head up the so-called Special Purpose Investment Vehicle (SPIV) for the EFSF.
Mr Callanan said: "Surely the EFSF needs somebody who will project an air of capability and calm during these tough times.
"Of all the expertise in Europe, they chose a man whose name is synonymous with malpractice and incompetence. What next, Bernie Madoff for Budgets Commissioner and Fred Goodwin as senior economic adviser?
"Putting Jacques Santer in charge of fundraising is like putting Dracula in charge of the blood bank.
"Santer's little helpers have dragged him out of retirement to give him another cushy EU job."