17 former members of the European Commission, including Charlie McCreevy are receiving annual payments of 96,000 despite having found other employment.
A report on the EUObserver website today reports that the annual "transitional allowance" is to assist former European Commission members "ease" back into private sector employment following their work with the Commission.
Nick Webb in The Sunday Independent at the weekend reported that McCreevy had joined the board of the 4bn "corporate raider" investment group NBNK "headed up by the former Lloyds chairman Lord Levene" just before it floated. Webb's piece on the front page of the business section reported that the firm was eyeing up AIB UK's operations because NBNK had "plans to create a new high-street UK bank".Since leaving his office in February 2010, Mr McCreevy has become a member of the supervisory board of Ryanair airlines, with an annual salary calculated by the Alter-EU anti-lobbying campaign group of up to 47,000.
But he is still said to get an additional 11,000 of transition money from the commission. The same amount is thought to go to Mr Borg who currently works for Fipra, a PR consultancy lobbying on maritime issues.
The commission's allowance rules say the transitional money is paid for three years and the sum is between 40 percent and 65 percent of the basic salary of a commissioner (20,278 per month), depending on the length of service.
The EUobserver goes on to report that the Alliance for Lobbying Transparency and Ethics Regulation has raised concern over McCreevy's continued payments from the European Commmission now that he's on the board of Ryanair saying it "give[s] serious cause for concern".