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Mairead McGuinness, currently First Vice-President of the European Parliament, was the candidate who led a poll of potential candidates organized by this website.
On Monday, Commission President Ursula von der Leyen conducted video interviews with both McGuinness and Andrew McDowell, another candidate, who recently completed a term as vice president of the European Investment Bank.
At a press conference on Tuesday, von der Leyen said both candidates had shown “great commitment to the EU and the duties of a commissioner. They were excellent candidates and both clearly have significant experience in EU affairs, albeit from different perspectives. “
The appointment has yet to be ratified by Parliament at a hearing, the date of which has not yet been set, but this is considered a formality.
Von der Leyen confirmed that McGuinness will hold the Financial Stability, Financial Services and Capital Markets Union portfolio. Previously, this was part of Valdis Dombrovskis’ mandate and involves leading the Commission’s banking and financial reforms.
Dombrovskis, for his part, will continue to oversee the portfolio of operations, which he has been doing on a temporary basis following the resignation of Phil Hogan.
“I warmly welcome Mairead’s nomination. Mairead is a very experienced politician and I look forward to working with her to advance these important areas and achieve a real CMU through my work in Parliament’s Committee on Economic and Monetary Affairs. ” Frances Fitzgerald MEP
Dombrovskis is a former Latvian Prime Minister and European Commissioner since 2014. He will remain the Commission’s representative in the Eurogroup.
Von der Leyen said: “Ms McGuinness has significant political experience in EU affairs, having been a Member of the European Parliament since 2004. This experience will be crucial in advancing the EU’s financial policy and ensuring that we strengthen the joint green and digital transition “.
Hogan resigned after the so-called “Golfgate” scandal in which he allegedly broke strict quarantine rules in his native Ireland.
The reaction to McGuiness’s appointment was swift, with Irish PPE MEP Frances Fitzgerald, who had thrown her hat into the ring for the Irish position, telling this site: “I warmly welcome Mairead’s nomination. Mairead is a very experienced politician and I look forward to working with her to advance these important areas and achieve a real CMU through my work in Parliament’s Committee on Economic and Monetary Affairs. “
Also, I applaud von der Leyen for his commitment to gender equality. From the beginning, it has sought a gender-balanced university and I am delighted to see that it has reached this important and monumental milestone. “
Irish GUE MEP Clare Daly told The Parliament Magazine: “There was never any doubt that Mairead McGuinness would be chosen for the position once she was nominated, so there are no surprises with her appointment by the Commission President. “.
“Obviously, it would be a considerable promotion for her. [McGuinness] and an interesting option in financial services, given Ireland’s savory reputation for facilitating big finance and our submission to vulture funds, she will have a lot of work ahead of her if she is ratified in office. ” MP Clare Daly
“Although it will be interesting to hear when you attend Parliament. Obviously it would be a considerable promotion for her and an interesting option in financial services, given Ireland’s savory reputation for facilitating big finance and our submission to vulture funds, she will have a lot of work for her if she is ratified in office. “
She added: “I am also aware that there is great interest in her movements to and from Brussels and whether she complied with all COVID regulations, particularly as this was the reason the position was vacated.”
Speaking to this website, the former Speaker of the Parliament of Ireland, Pat Cox, said: “This is excellent news. Ms. McGuinness is a competent woman and a high-level MP. I congratulate Mairead and wish her the best, starting with the audience ”.
Former Liberal Leader in Parliament Sir Graham Watson told The Parliament Magazine: “This is an orderly solution, satisfying the requirements of party, gender and competition.”
Also Vice President of Parliament and MP for the Finnish Greens, Heidi Hautala, said: “I am convinced that she is the right woman for the job. A wildly popular and widely respected vice president, she has historically strong support from all political parties. “
“Having worked alongside her for several years and in various settings, I have come to admire her for her extraordinary intellect, strength of character and for being truly a woman who stands up for women.”
“I am convinced that she is the right woman for the job. A wildly popular and widely respected vice president, she has historically strong support across political party lines. ” MEP Heidi Hautala
Irishman Taoiseach Micheal Martin also congratulated Mairead McGuinness, saying it was a great day for her and her family, adding: “I have no doubt that she will serve with distinction and play a key role in the work of the Commission.”
Irish EPP MEP Deirdre Clune told this website: “Mairead is an experienced politician and will bring the excellent skills she has developed in the European Parliament to her work as a Commissioner. The financial services portfolio is a very important area for Europe today and Mairead’s skills are up to the challenge. “
German Greens MEP Sven Giegold, spokesperson for economic and financial policy for the Greens / EFA group, commented that “Mairead McGuinness is a good choice. She is a valued colleague and a convinced European. It is time for a woman to take charge of the important issue of financial markets, for the first time since 1958 ”.
“I warmly congratulate you. We have known each other for years because of your responsibility for dialogue with churches and religious communities in Parliament. With McGuiness, von der Leyen has moved closer to his promise of a gender-balanced Commission College. “
“The fact that the financial market portfolio is now in the hands of Ireland raises questions. Irish financial services policy cannot serve as an example for Europe. Ireland has done a lot in the past to compete through soft supervision with London in financial services. The pro-financial market policy of the British Isles cannot be the European standard for stability-oriented and consumer-friendly regulation ”.
“With the head of the Eurogroup and the Commissioner for Financial Markets, key finance positions are now in Irish hands. As Commissioner of the Financial Market, McGuinness will be responsible for fiscal transparency. [country-by-country reporting], money laundering and European supervision of the Capital Market Union. We will press for these important European issues to be clarified at the next hearing with the candidate ”.
He continued: “Dombrovskis’s legacy in the financial market sector is Sustainable Finance. Just as the greening of the financial sector began, now it must develop a European ecological and social trade policy. We need an EU trade policy to combat climate change, in line with the European Green Deal ”.
A spokesperson for BusinessEurope also told this website: “We look forward to the confirmation hearing in the European Parliament, but nevertheless we welcome having a Commissioner dedicated to the financial sector given the importance for the recovery of strong access to finance. and financial stability, and we are confident that Ms. McGuiness will make a great contribution. “
