2012 Indy Info
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By Peter Allen In Paris |
Nicolas Sarkozy is contemplating a 200,000-pounds-an-hour job with a bank which already employs his old friend Tony Blair.
If the former French president accepts the job with Morgan Stanley he will be following in the highly lucrative footsteps of the ex-Prime Minister.
But critics on the other side of the Channel have already expressed disgust at once elected politicians effectively using their reputations to enrich themselves to the tune of millions.
Lucrative: Former French president Nicolas Sarkozy, left, is said to be mulling over an offer from Morgan Stanley. Tony Blair, the former British Prime Minister, right, has amassed a fortune since he left the post in 2007
Since quitting as PM in 2007, Mr Blair has bought at least six homes, travels the world by private jet, and has an income of at least 20 million pounds a year.
Around 2.5million pounds of that comes from his role as an advisor to the US investment bank JP Morgan, who have now approached Mr Sarkozy.
Leisure time: Sarkozy was pictured on holiday in Cap Negre in the south of France earlier this month
According to the French investigative weekly Le Canard Enchaine, the bank has offered Mr Sarkozy a quarter of a million euros for one hour’s work.
He will be expected to make a speech of 45 minutes and then pose for pictures for a further 15.
The controversial Mr Sarkozy is currently facing a number of corruption allegations in France, including claims that he accepted illegal cash payments from Lilian Bettencourt, the l’Oreal heiress and France’s richest woman.
But the conservative politician’s five years spent running France are considered of huge interest to international companies, and Mr Sarkozy is in a good position to exploit this.
The offer from Morgan Stanley is far more than the 17,000 odd pounds a month he earned as President, but it is still a lot less than the fees Mr Blair can command.
Referring to Mr Sarkozy, French agent Nicolas Teil, said: ‘As a head hunter I can see why a company would spend so much money for (Mr Sarkozy’s) economic expertise.’
But Mr Teil added: ‘This is a very taboo subject in France at the moment. You will never get a former president boasting of having sold his services to a company as it would offend public opinion.‘
Mr Blair has regularly been accused of abusing his former position to make massive profits. He also runs a financial advisory service, Tony Blair Associates, which has deals with the oil and gas-rich governments of Kazakhstan and Kuwait and sovereign wealth funds in China and Abu Dhabi.
Before the murder of Colonel Gaddafi during the Arab Spring, Mr Blair regularly met the dictator in Libya, and advised companies on how to make money in the oil-rich country.
Mr Blair, who speaks French, has been a frequent visitor to Paris over the years, both officially and as a friend of Mr Sarkozy’s.
Neither have commented on the claims in the latest edition of Le Candard Enchaine
Time is money: The banking giant has offered Mr Sarkozy a quarter of a million euros for one hours work
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