Finance Watch – a lobby to break the lobbies

Publication date: 
vendredi, February 24, 2012
Harald Schumann
Media title: 
Der Tagesspiegel

"What started it off was a phenomenon seen only after the financial crisis broke in autumn 2008. [...] At the same time, it emerged that the European Commission and its Internal Market Directorate General had been thoroughly infiltrated by the financial industry."


How far this went was uncovered by the Alliance for Lobbying Transparency and Ethics Regulation (ALTER EU), whose autumn 2009 report entitled A Captive Commission, described how then Acting Commissioner Charlie McCreevy had de facto outsourced law-making to vested interests. Half of Europe was outraged at the EU authorities relying on such one-sided information. In practice, though, no consequences flowed from that outrage.