Not just a county in England.
Former European commissioner Charlie McCreevy has resigned from the board of a new banking firm after an EU ethics committee found a conflict of interest with his work as commissioner in charge of financial regulation.
Mr McCreevy stepped down from the board NBNK Investments last night on foot of a negative opinion from the committee, which was established by the Commission to assess his employment by the firm.
This is first time that a former member of the EU executive has had to resign a directorship since it introduced the current system for overseeing the work of retired commissioners in 2003.
NBNK Investments was set up during the summer by former Lloyds chairman Lord Levine to pursue acquisition opportunities in the British banking sector. As institutions seek to recover from the financial crash, some large players are selling assets to comply with EU competition rulings.
McCreevy steps down from bank board over conflict - The Irish Times - Thu, Oct 07, 2010
Occasional p.ie poster Nessa Childers MEP had made her views plain:
Labour MEP Nessa Childers had complained that NBNK was “feeding off the financial crisis” fanned by Mr McCreevy’s “light-touch” approach to financial regulation. This “bitter irony”, she said, and would not be lost on people who lost their jobs due the financial crisis.