Bank lobbying sting nabs three senior MEPs

Publication date: 
Monday, March 21, 2011
Leigh Phillips
Media title: 
EU Observer

The European Parliament has opened an investigation into allegations that three senior MEPs - all former government ministers - have accepted bribes in return for tabling amendments in the chamber intended to water down legislation regulating the financial industry.


Transparency and development campaigners immediately called for an investigation into the links between financial lobbyists and lawmakers. The revelations came as a fresh report from Spinwatch (steering committee member of ALTER-EU), a UK-based outfit that monitors the lobbying industry, highlighted Goldman Sachs lobbying activities in the wake of the crisis, including how the investment firm had won seats on many of the key advisory groups to European officials in charge of banking re-regulation.