Official EU policy documents or announcements

EU’s Musk Nemesis Thierry Breton Joins Bank of America Advisory Council After Ethics Committee Approval

Jan 17, 2025, 09:09 AM

Thierry Breton, known as the EU’s Musk nemesis and former European Commissioner for the Internal Market, has been approved by the European Commission to join the international advisory council of Bank of America. This decision comes despite a rule that mandates a two-year waiting period before former commissioners can engage in lobbying activities. Breton resigned from his EU position in September and will now take on a role that involves three days of meetings per year, focusing on economic and geopolitical discussions. The Commission's ethics committee reviewed and approved this move, stating that Breton's new position is compatible with EU treaties as long as he refrains from lobbying and disclosing confidential information. Breton has confirmed that he had no contact with Bank of America during his tenure as a commissioner. Critics, including a Greens MEP, have questioned the decision, highlighting concerns over the 'revolving door' between public service and private sector roles.