Saturday, May 07, 2005

Muddying the water

If Commission President, Durao Barroso thinks that the whole hospitality affair was over because he had written a letter denying any wrongdoing over his holidays then the story in Yesterday's La Clave magazine in Spain will have brought him up short. The article claims that the letter was a direct lie. The magazine points to a project worth at lest €522 million to build a pipeline between Bulgaria and Greece.
In a report about the status of Georgia, the Burgas-Alexandropolis oil pipeline is described as "fundamental for the EU’s security of energy supply".
What is not mentioned in the Commission working paper is who is the principle financial beneficiary of the work.
Readers of this blog will not be surprised to discover that one Spiros Latsis is that man.

The pipeline is to be constructed by a Consortium,
"BP PLC’s Russian joint venture, TNK-BP, is heading the project and other partners are to include Greece’s Hellenic Petroleum and the Latsis and Kopelouzos Groups, the US’s Cambridge Energy Research Associates, Russia’s Lukoil and Rosneft, and Bulgaria’s Technoexportstroy".

Well we know that Latisis Group is involved, however what is not noted by the journalist is that 30% of Hellenic Petroleum is also held by the Latsis Group in Joint Venture with the Greek Government and Russia's Lukoil.
Though in some places the pipeline is described as "privately Financed" we do know that the Greek Government asked the European Council for funds back in November last year.

Add this to the revelations thrown up by EUReferendum blog about the activities of the Commissioner, the shipyard, the luxury yacht, the billionaire and the post holiday state aid and it all starts to smell rather strongly of serial co-incidence.

The claims of the European Commission in general and of its President Barrroso in particular to be effective in self governance when it comes to conflicts of interest are pure Hokum.

Next week the European Parliament will have the chance to summon the Portugoose before its Strasbourg plenary to explain himself.
The way things are going, if he continues to stonewall we may just be seeing the begging of the end for this Commission.

1 comment:

Meme chose said...

Oh dear. What shall we call this one, then? 'Oil for Foie Gras'?