The New European Commission: a Closer Look at President Juncker’s Visi...

The New European Commission: a Closer Look at President Juncker’s Vision for the EU Internal Market and Economic and Monetary Union

The European Commission will continue to play a principal role in the SEPA process going forward

31 October 14

Share This

Recap: the role of the European Commission in the Single Euro Payments Area () process

The European Commission represents the general interest of the European Union (EU). The Commission is the driving force in proposing EU legislation, (to the European Parliament and the Council of the EU representing EU governments), administering and implementing EU policies, enforcing EU law, (jointly with the Court of Justice), and negotiating in the international arena.

As previously reported, SEPA is an EU integration initiative in the area of payments. With the introduction of the euro currency in 1999, the political drivers of the SEPA initiative – EU governments, the European Parliament, the European Commission and the European Central Bank (ECB) – have focused on the integration of the euro payments market with a view to foster the further integration of the internal market and strengthen the Economic and Monetary Union. In November 2000, Commissioner Frits Bolkestein, then in charge of the Internal Market and Taxation, reiterated: “The [European] Commission´s political objective is exactly that: a modern Single Payment Area for the entire EU where there is no frontier effect for cross-border payments”.1

Since 2001, the EU co-legislators, i.e. the European Parliament and the Council of the EU representing EU governments2, adopted several legislative acts proposed by the European Commission designed to achieve an integrated euro payments market including the ‘Regulation (EU) No 260/2012 establishing technical and business requirements for credit transfers and direct debits in euro´ (the SEPA Regulation), which defines mandatory deadlines for SEPA migration in the EU.

In 2010, the European Commission together with the ECB established the SEPA Council, which brought together representatives from both the demand and supply sides with a view to promoting the realisation of an integrated euro retail payments market by ensuring high level stakeholder involvement. On 19 December 2013, the ECB announced the launch of the Euro Retail Payments Board (), which replaces the SEPA Council. The ERPB will “help foster the development of an integrated, innovative and competitive market for retail payments in euro in the EU”. ERPB members represent the demand and supply sides of the payments market. (The is a member of the ERPB.) EU national central banks also participate in the ERPB. The Commission acts as an observer in the ERPB chaired by the ECB.

The European authorities driving the SEPA process have clarified that migration to harmonised SEPA payment schemes and technical standards, as mandated by EU law, does not conclude this EU integration project. Former Vice-President of the European Commission Michel Barnier commented that SEPA is “more than just credit transfers and direct debits. It is also about card payments and might also cover internet and mobile payments. It will contribute to the further harmonisation of retail payments in the internal market.”3 Consequently, various regulatory initiatives proposed by the Commission and intended to bring about ‘SEPA 2.0´ are now in the pipeline. (For detailed information, refer to ‘related articles in previous issues´ below.)

The EU authorities, including the European Commission, have also consistently articulated the expectation that the legal and technical SEPA harmonisation exercise will contribute to streamlining business processes beyond payments by replacing paper-based procedures with standardised electronic solutions, i.e. to serve as a stepping stone to advance the digital single market.

For more information on the role of the European Commission in the SEPA process, refer to the following sources:

  • EPC Newsletter article (October 2013): SEPA Fact Check: The SEPA Benefits Projected by EU Governments, the European Parliament, the European Commission and the European Central Bank (1999 - 2013).
  • EPC infographic ‘SEPA at a Glance´: it provides a timeline highlighting key milestones of SEPA roll-out and an overview of the actors involved at the European level and their interaction.
  • EPC Newsletter (July 2014): Evolution and Oversight of the and SDD Schemes: the Role of the European Commission and of the European Central Bank.
  • European Commission Website: the Commission´s role in SEPA.

Sources cited in this article are included in the ‘related links´, ‘related articles in this issue´ and ‘related articles in previous issues´ below.

Recap: appointment of the new European Commission

Following the European Parliament elections in May 2014, Jean-Claude Juncker was proposed as candidate for President of the European Commission by the European Council on 27 June 2014. (The European Council consists of the Heads of State or Government of the EU Member States, together with its President and the President of the European Commission.) The European Council chooses the President of the Commission by “taking into account the latest elections to the European Parliament”. Mr Juncker was elected to become the next President of the European Commission in the European Parliament plenary session of 15 July 2014.

The European Council, by common accord with the President-elect, adopts the list of the other persons whom it proposes for appointment as members of the Commission. The right to organise the work of the European Commission, and to allocate portfolios to individual Commissioners, is the prerogative of its President. On 10 September 2014, President-elect Jean-Claude Juncker announced the Commissioners-designate and the allocation of responsibilities in his team.4

The next step is for the European Parliament to give its consent to the entire College of Commissioners including the President and the High-Representative of the Union for Foreign Affairs and Security Policy / Vice-President of the European Commission. This is preceded by hearings of the Commissioners-designate in the relevant parliamentary committees. On 22 October 2014, the European Parliament approved the new Commission as a whole.

The European Council formally appointed the European Commission at its meeting that took place on 23 and 24 October 2014. The new European Commission led by President Juncker takes office on 1 November 2014 for a five-year term. (For details on the responsibilities of the European Commission and the process of its appointment, refer to Article 17 of the consolidated version of the Treaty on European Union.)

Vice-Presidents will lead project teams, steering and coordinating the work of a number of Commissioners

Each new Commissioner, one from each EU country, is assigned responsibility for a specific policy area. Details are set out in the European Commission memo, entitled ‘Questions and Answers: The Juncker Commission´ published on 10 September 2014.

In the Juncker Commission, there will be six Vice-Presidents in addition to the High Representative of the Union for Foreign Affairs and Security Policy who is at the same time a Vice-President of the Commission. According to the 10 September 2014 European Commission memo, the “Vice-Presidents will be in charge of a number of well-defined priority projects and will steer and coordinate work across the Commission in the key areas of the Political Guidelines5, such as giving a new boost for jobs, growth and investment, a connected Digital Single Market, a resilient Energy Union and a deeper and fairer Economic and Monetary Union. This will allow for much stronger cooperation across areas of responsibility, with several Commissioners working closely together with the Vice-Presidents, in compositions that may change according to need and to possible new projects developing over time.”

“Vice-Presidents will also have a strategic filtering role. As a general rule, the [Commission´s] President will not put any new initiative in the Commission Work Programme or on the agenda of the College [of Commissioners] that has not received the backing of a Vice-President, on the basis of sound arguments and a clear narrative. In this respect and considering the specific priority given to the better regulation agenda and budgetary constraints, the President will pay particular attention to the opinion of the First Vice-President, in charge of Better Regulation, Inter-Institutional Relations, the Rule of Law and the Charter of Fundamental Rights (…) and of the Vice-President for Budget and Human Resources.”

Frans Timmermans, First Vice-President in charge of Better Regulation, Inter-institutional Relations, the Rule of Law, and the Charter of Fundamental Rights

First Vice-President Frans Timmermans is in charge of Better Regulation, Inter-institutional Relations, the Rule of Law, and the Charter of Fundamental Rights. In his mission letter to Frans Timmermans, President Juncker states: “Delivering the priorities of the Political Guidelines will require a reform of the way the Commission has operated up until now. Reform means change. I want us all to show that we are open to change and ready to adapt to it. (…) We cannot and should not do everything: I want the European Commission to be bigger and more ambitious on big things, and smaller and more modest on small things.”

President Juncker goes on to say: “We will concentrate our efforts on those areas where only joint action at European level can deliver the desired results. When we act, we will always look for the most efficient and least burdensome approach. Beyond these areas, we should leave action to the Member States where they are more legitimate and better equipped to give effective policy responses at national, regional or local level.”

First Vice-President Timmermans therefore, should coordinate “the work on better regulation within the Commission, ensuring the compliance of EU proposals with the principles of subsidiarity and proportionality, and working with the European Parliament and the Council [of the EU] to remove unnecessary ‘red tape´ at both European and national level. This includes steering the Commission´s work on the ‘Regulatory Fitness and Performance Programme´ (REFIT) of EU legislation and ensuring the quality of impact assessments underpinning our activities.”

As outlined on the EU Website6, the principle of subsidiarity is fundamental to the functioning of the EU, and more specifically to European decision-making. In particular, the principle determines when the EU is competent to legislate, and contributes to decisions being taken as closely as possible to the citizen. The principle of subsidiarity is established in Article 5 of the Treaty on European Union.

The principle of subsidiarity aims to  determine the level of intervention that is most relevant in the areas of competences shared between the EU and the Member States. This may concern action at European, national or local levels. In all cases, the EU may only intervene if it is able to act more effectively than Member States. The Protocol on the application of the principles of subsidiarity and proportionality lays down three criteria aimed at establishing the desirability of intervention at European level:

  • Does the action have transnational aspects that cannot be resolved by Member States?
  • Would national action or an absence of action be contrary to the requirements of the Treaty?
  • Does action at European level have clear advantages?

Valdis Dombrovskis, Vice-President for the Euro and Social Dialogue, leads the project team ‘A Deeper and Fairer Economic and Monetary Union´

All EU Member States form part of the Economic and Monetary Union, which can be described as an advanced stage of economic integration based on a single market. It involves close coordination of economic and fiscal policies and, for those countries fulfilling certain conditions, a single monetary policy and a single currency – the euro. The goal of achieving the Economic and Monetary Union including a single currency – the euro – was enshrined in the 1992 Maastricht Treaty (Treaty on European Union), which sets out the ground rules for its introduction.7 According to the European Commission´s memo published on 10 September 2014, “the Commission must continue with the reform of Europe's Economic and Monetary Union to preserve the stability of the euro.” Valdis Dombrowskis, Vice-President for the Euro and Social Dialogue, leads the project team ‘A Deeper and Fairer Economic and Monetary Union´. He will be tasked, among other things, with “coordinating, presenting and implementing initiatives to enhance the convergence of economic, fiscal and labour market policies between the Member States that share the euro.”

In his mission letter to Valdis Dombrowskis, President Juncker points out that the Vice-President for the Euro and Social Dialogue will steer and coordinate the work of, among others, Pierre Moscovici, Commissioner for Economic and Financial Affairs, Taxation and Customs; Elżbieta Bieńkowska, Commissioner for Internal Market, Industry, Entrepreneurship and SMEs; and Jonathan Hill, Commissioner for Financial Stability, Financial Services and Capital Markets Union.

Jyrki Katainen, Vice-President for Jobs, Growth, Investment and Competitiveness, leads the project team ‘A New Boost for Jobs, Growth and Investment´

The European Commission´s memo of 10 September 2014 states that “one of the Commission´s top priorities will be to strengthen Europe´s competitiveness and to stimulate investment and create jobs”. Jyrki Katainen, Vice-President for Jobs, Growth, Investment and Competitiveness, leads the project team ‘A New Boost for Jobs, Growth and Investment´.

In his mission letter, President Juncker invites Vice-President Katainen, among other things, to coordinate the “mid-term review of the Europe 2020 Strategy for smart, sustainable and inclusive growth and help ensure progress towards EU targets in this field,” and to work “closely with the Vice-President for the Euro and Social Dialogue to ensure that the EU´s economic policy coordination is effective and successful, in line with the goals of our social market economy. This includes the pursuit of a strong structural reform agenda, all the while paying attention to the social impact of reforms”. Keeping “the competitiveness dimension prominently at the heart of the Commission´s policy work”, Vice-President Katainen will also help with improving “the business environment in order to strengthen Europe as an attractive place to work and invest”.

In his mission letter, President Juncker points out that Vice President Katainen will steer and coordinate the work of, among others, Pierre Moscovici, Commissioner for Economic and Financial Affairs, Taxation and Customs; Elżbieta Bieńkowska, Commissioner for Internal Market, Industry, Entrepreneurship and SMEs; Jonathan Hill, Commissioner for Financial Stability, Financial Services and Capital Markets Union; and Günther Oettinger, Commissioner for Digital Economy and Society.

Andrus Ansip, Vice-President for the Digital Single Market, leads the project team ‘A Connected Digital Single Market´

In his mission letter to Andrus Ansip, President Juncker invites the Vice-President for the Digital Single Market to deliver, “within the first six months of the mandate, ambitious legislative steps towards a connected Digital Single Market, notably by adding more ambition to the ongoing reform of our telecoms rules, modernising copyright rules in the light of the ongoing digital revolution – taking full account of Europe´s rich cultural diversity – and modernising and simplifying consumer rules for online and digital purchases. This should be based on a clear assessment of the main obstacles still to be removed and the formulation of a clear long-term strategy for the Digital Single Market.” Vice-President Ansip will lead the project team ‘A Connected Single Digital Market´.

Within his area of responsibility, Vice-President Ansip will steer and coordinate the work of, among others, Günther Oettinger, Commissioner for Digital Economy and Society; Elżbieta Bieńkowska, Commissioner for Internal Market, Industry, Entrepreneurship and SMEs; and Pierre Moscovici, Commissioner for Economic and Financial Affairs, Taxation and Customs.

New European Commissioners supporting project teams focusing on ‘A Deeper and Fairer Economic and Monetary Union´, ‘A New Boost for Jobs, Growth and Investment´ and ‘A Connected Digital Single Market´

The following new European Commissioners, among others, will support the project teams focusing on ‘A Deeper and Fairer Economic and Monetary Union´, ‘A New Boost for Jobs, Growth and Investment´ and ‘A Connected Digital Single Market´8:

Elżbieta Bieńkowska, Commissioner for Internal Market, Industry, Entrepreneurship and SMEs. In his mission letter, President Juncker points out that Commissioner Bienkowska will contribute, in particular, “to projects steered and coordinated by the Vice-President for Jobs, Growth, Investment and Competitiveness and the Vice-President for the Euro and Social Dialogue, as well as the Vice-President for the Digital Single Market and the Vice-President for Energy Union.” One area of focus should be “supporting the work of the first Vice-President, in charge of Better Regulation, Inter-Institutional Relations, the Rule of Law and the Charter of Fundamental Rights, to deliver on our better regulation agenda.” President Juncker´s mission letter to Commissioner Bieńkowska also states: “To help you fulfil your responsibilities, the Directorate-General9 for Internal Market and Services (DG MARKT) and the Directorate-General for Enterprise and Industry (DG ENTR) will be merged and will report to you.”

Pierre Moscovici, Commissioner for Economic and Financial Affairs, Taxation and Customs. According to the European Commission´s memo published on 10 September 2014, “the Vice-President for the Euro and Social Dialogue (Valdis Dombrovskis) and the Commissioner for Economic and Financial Affairs, Taxation and Customs (Pierre Moscovici) will work in a spirit of collegiality and mutual dependence”. In his mission letter, President Juncker invites Commissioner Moscovici, among other things, to pay “specific attention to the stability of the single currency and fiscal policies within the euro area”. President Juncker´s mission letter also states: “To help you fulfil your responsibilities, the Directorate-General for Economic and Financial Affairs (DG ECFIN), with some adjustments (…) and the Directorate-General for Taxation and Customs (DG TAXUD) will report to you.”

Jonathan Hill, Commissioner for Financial Stability, Financial Services and Capital Markets Union. In his mission letter to Commissioner Hill, President Juncker states: “You will, in particular, contribute to projects steered and coordinated by the Vice-President for Jobs, Growth, Investment and Competitiveness and the Vice-President for the Euro and Social Dialogue.” Commissioner Hill is tasked with, among other things, ensuring that “the financial services regulatory framework takes into account the needs and interests of consumers and retail investors and proposing any necessary measures to make financial services work better for citizens,” and that “the financial services regulatory reform agenda, including the accompanying delegated/implementing acts” is achieved in a timely and effective manner. He will also, as part of the project team steered and coordinated by the Vice-President for the Digital Single Market, “ensure the safety and the modernisation of the Union´s regulatory framework on digital/electronic payments in order to facilitate online purchases. The safety and appropriateness of certain virtual currencies should also be assessed and, where appropriate, relevant policy measures should be proposed.” “To help you fulfil your responsibilities,” President Juncker adds, “a new Directorate-General for Financial Stability, Financial Services and Capital Markets Union will report to you.”

Günther Oettinger, Commissioner for Digital Economy and Society. In his mission letter, President Juncker invites Commissioner Oettinger to focus, among other things on preparing, as part of the project team steered by the Vice-President for the Digital Single Market, “ambitious legislative steps towards a connected Digital Single Market within the first six months in office”. He will also be tasked “to work with the Vice-President for the Digital Single Market on a plan to make the EU a leader in cyber security preparedness and trustworthy ICT, and to increase the confidentiality of communications”. In addition, Commissioner Oettinger will support the Vice-President for the Digital Single Market and the Commissioner for Justice, Consumers and Gender Equality in finalising the negotiations “on an ambitious Data Protection Regulation in 2015”. On the basis of the outcome of this legislative process, he will “prepare a reform of the e-Privacy Directive, liaising closely with the Vice-President for the Digital Single Market, with the support of the Commissioner for Justice, Consumers and Gender Equality”. President Juncker´s mission letter to Commissioner Oettinger also states: “To help you fulfil your responsibilities, the Directorate-General for Communications Networks, Content and Technology (DG CONNECT), with some adjustments (…) and the Directorate-General for Informatics (DG DIGIT) will report to you.”

Margrethe Vestager, Commissioner for Competition. In his mission letter to Margrethe Vestager, President Juncker points out: “You will, in particular, contribute to projects steered and coordinated by the Vice-President for Jobs, Growth, Investment and Competitiveness, the Vice-President for the Digital Single Market and the Vice-President for Energy Union.” President Juncker further clarifies that competition policy “is one of the areas where the Commission has exclusive competence and action in this field will be key to the success of our jobs and growth agenda. It should contribute to steering innovation and making markets deliver clear benefits to consumers, businesses and society as a whole”. President Juncker invites Commissioner Vestager to focus, among other things, “on mobilising competition policy tools and market expertise so that they contribute, as appropriate, to our jobs and growth agenda” in areas such as the digital single market and financial services. The Directorate-General for Competition (DG COMP) will report to Commissioner Vestager.

Information on the members of the new European Commission and their portfolios is also made available by the European Parliamentary research service.

Whether or not SEPA will deliver on its potential also depends on the EU institutions and governments adhering to a harmonised vision of who should do what to achieve ‘SEPA 2.0´

As outlined above, President Juncker stressed that “coordinating, presenting and implementing initiatives to enhance the convergence of economic, fiscal and labour market policies between the Member States that share the euro” is a principal objective of the new European Commission. The Commission will therefore, continue to play a principal role in the further integration of the euro payments market.

In the April 2014 edition of this newsletter, EPC Chair Javier Santamaría commented in the article, entitled ‘SEPA 2.0: an Overview of Regulatory Action Now in the Pipeline Impacting the European Payments Market Going Forward´: “Going forward, the institutional SEPA landscape will become even more complex: in future, the newly established Euro Retail Payments Board (ERPB) chaired by the European Central Bank and the European Banking Authority (EBA) will also play a role in shaping SEPA.”

He also reiterated: “From the perspective of the EPC it would be welcomed if the authorities would keep in mind that payment habits and business models established on both the demand and supply sides will only change gradually once SEPA is achieved. Therefore, realistic targets – taking into consideration customer preferences – should be agreed when determining further EU action.”

As previously reported, the EPC, (which is not part of the EU institutional framework), also suggests that possible duplication of efforts by the ERPB, the Commission and other regulatory bodies be avoided. Whether or not SEPA will deliver on its potential also depends on the EU institutions and governments adhering to a harmonised vision of who should do what to achieve ‘SEPA 2.0´.

The EPC looks forward to the continued dialogue with all stakeholders on the most appropriate next steps to ensure an efficient and secure SEPA landscape that responds to market needs.

Etienne Goosse is the EPC Secretary General.

 

Related links:

EPC Website: SEPA Legal and Regulatory Framework 

EPC Website: SEPA at a Glance – the Infographic (this infographic provides an overview of the actors involved in the SEPA process at the European level and their interaction) 

Regulation (EU) No 260/2012 establishing technical and business requirements for credit transfers and direct debits in euro (the SEPA Regulation)

European Central Bank Website: Governance (includes detailed information on the Euro Retail Payments Board (ERPB) and related documentation) 

European Commission Website: Commission´s Role in SEPA 

European Commission Website: Digital Agenda for Europe - A Europe 2020 Initiative

European Commission Website: Towards the Juncker Commission 

European Commission Website (Towards the Juncker Commission): The New Structure of the Juncker Commission 

European Commission Memo (10 September 2014): Questions and Answers: The Juncker Commission 

European Commission President Juncker´s Mission Letter to Frans Timmermans, First Vice-President in Charge of Better Regulation, Inter-institutional Relations, the Rule of Law, and the Charter of Fundamental Rights 

European Commission President Juncker´s Mission Letter to Valdis Dombrovskis, Vice-President, responsible for the Euro and Social Dialogue (Project Team: A Deeper and Fairer Economic and Monetary Union) 

European Commission President Juncker´s Mission Letter to Jyrki Katainen, Vice-President for Jobs, Growth, Investment and Competitiveness (Project Team: A New Boost for Jobs, Growth and Investment) 

European Commission President Juncker´s Mission Letter to Andrus Ansip, Vice-President for the Digital Single Market (Project Team: A Connected Digital Single Market) 

European Commission President Juncker´s Mission Letter to Elżbieta Bieńkowska, Commissioner for Internal Market, Industry, Entrepreneurship and SMEs 

European Commission President Juncker´s Mission Letter to Pierre Moscovici, Commissioner for Economic and Financial Affairs, Taxation and Customs 

European Commission President Juncker´s Mission Letter to Jonathan Hill, Commissioner for Financial Stability, Financial Services and Capital Markets Union 

European Commission President Juncker´s Mission Letter to Günther Oettinger, Commissioner for Digital Economy and Society

European Commission President Juncker´s Mission Letter to Margrethe Vestager, Commissioner for Competition

European Parliamentary Research Service: #EPHearings2014: Meet the Commissioners-designate!

European Parliament Website: Towards a New Commission

European Parliament Press Release (22 October 2014): Parliament Elects New  European Commission 

European Council Website

European Council (23 and 24 October 2014) Concluions ("The European Council adopted the Decision appointing the European Commission", p. 15)

Council of the European Union Website

European Union Website: EU Treaties

Consolidated Version of the Treaty on European Union (p. 13) and Consolidated Version of the Treaty on the Functioning of the European Union (p. 47)

European Commission Directorate-General Communication: How the European Union works – Your Guide to the EU Institutions (free publication for download)

 

Related articles in this issue:

Next Step to Create the Digital Single Market: EU Lawmakers Adopt the New Regulation on Electronic Identification and Trust Services for Electronic Transactions in the Internal Market. European Union authorities seek to enhance trust in electronic transactions

Tensions in Cyberspace: Competing Priorities and Legislative Initiatives in the Online Payments World. Will the EU legal framework aimed at ensuring secure online payments amount to a series of harmonious provisions, or result in an uneasy compromise?

The European Court of Justice Has Ruled that Interchange Fees Are Permitted if They Provide Benefits to Merchants. What are the Implications of the MasterCard Judgment for Interchange Fees in Europe? The Court leaves an unresolved question: what are the permitted multilateral interchange fee levels?

Learn More About Work Items Related to SEPA Credit Transfer and SEPA Direct Debit Addressed by the New Euro Retail Payments Board (ERPB) Chaired by the European Central Bank. The ERPB represents the demand and supply sides of the payments market with participation of national central banks

 

Related articles in previous issue:

SEPA 2.0: an Overview of Regulatory Action Now in the Pipeline Impacting the European Payments Market Going Forward. The European authorities have clarified that migration to harmonised SEPA payment schemes and technical standards does not conclude this EU integration project (EPC Newsletter, Issue 23, July 2014) 

PSD2: EPC Calls on EU Lawmakers to Maintain the Firewall Protecting Consumers Making Internet Payments. This Means: No Sharing of Any Personalised Security Credentials with Third Parties. Update on legislative process leading to the adoption of the revised Payment Services Directive (EPC Newsletter, Issue 23, July 2014)

Evolution and Oversight of the SCT and SDD Schemes: the Role of the European Commission and of the European Central Bank. The SEPA payment schemes in the legal and regulatory context (EPC Newsletter, Issue 23, July 2014) 

SEPA Fact Check: The SEPA Benefits Projected by EU Governments, the European Parliament, the European Commission and the European Central Bank (1999 - 2013) (EPC Newsletter, Issue 20, October 2013) 

 

 

Speech Frits Bolkestein, Member of the European Commission in Charge of the Internal Market and Taxation: 'Establishing a Single Payment Area' (9 November 2000) http://europa.eu/rapid/press-release_SPEECH-00-424_en.htm?locale=en.

The Council of the European Union (EU) is the EU institution where the EU Member States´ government representatives sit, i.e. the ministers of each EU Member State with responsibility for a given policy area. It meets in various configurations, each dealing with a number of fixed policy areas.

European Commission statement (1 August 2014): Vice-President Michel Barnier welcomes major milestone for the internal payments market with the migration to SEPA (Single Euro Payments Area) http://europa.eu/rapid/press-release_STATEMENT-14-246_en.htm.

After Alenka Bratušek had withdrawn her candidacy, the Council of the European Union on 15 October 2014 adopted the list of Commissioners-designate amended by President-elect Jean-Claude Juncker on 14 October 2014 to include the name of the new Slovenian candidate, Violeta Bulc. (European Commission press release: ‘The Juncker Commission: Maroš Šefcovic proposed as Vice-President for Energy Union, Violeta Bulc as Transport Commissioner´ http://europa.eu/rapid/press-release_IP-14-1163_en.htm.)

A new start for Europe - Jean-Claude Juncker's Political Guidelines (15 July 2014) http://ec.europa.eu/news/eu_explained/140715_en.htm.

European Union Website: The principle of subsidiarity http://europa.eu/legislation_summaries/institutional_affairs/treaties/lisbon_treaty/ai0017_en.htm.

European Commission Website: the Euro http://ec.europa.eu/economy_finance/euro/index_en.htm.

This article introduces new Commissioners with responsibilities in areas impacting financial services. For an overview of other Commissioners supporting the project teams mentioned in this article, refer, for example, to the European Commission Website ‘Towards the Juncker Commission´. The link is included in the ‘related links´ underneath the article.

The European Commission is divided into several departments and services. The departments are known as Directorates-General (DGs). (European Commission Website: http://ec.europa.eu/about/ds_en.htm.)



Your reactions

If you would like to comment on this article, please identify yourself with your first and last name. Your name will appear next to your comment. Email addresses will not be published. Please note that by accessing or contributing to the discussion you agree to abide by the EPC website Terms and Conditions.