If you thought that being involved with the insurance industry couldn’t get you into any trouble, then spare a thought for one Edmund Stoiber.
Stoiber, who was a former prime minister of Bavaria, was appointed as the head of a team assigned with the objective of cutting the cost of European Union regulations. However, now the European Commission has come under fire from top EU watchdog Emily O’Reilly over the appointment – primarily because of Stoiber’s insurance links.
According to a BBC report, O’Reilly has described the appointment of Stoiber in March last year as a case of “maladministration” claiming that the Commission did not make sufficient conflict of interest checks.
The problem has risen because Stoiber held positions linked to Nurnberger, a large insurance company – something that was omitted from the detail when his appointment was made. According to O’Reilly, the omission “raised legitimate doubts” about how he was vetted and now she has launched a probe into how the EU Commission carries out conflict of interest checks on an approximate additional 40 special advisors.
Commenting on the question of transparency surrounding such appointments, O’Reilly stated that “there is not sufficient acceptance of why this is an issue. I get the sense people don’t think it’s a big deal. The Commission needs to get a lot more serious. It is not taking it sufficiently seriously.”
Stoiber was brought in to serve as an advisor for Commission President Jean-Claude Juncker. He has vast experience in helping reduce bureaucratic costs at small and medium-sized companies with the Commission stating that his group has helped businesses reduce costs by more than 25 per cent.