EPC Blog: The new European Commission – a closer look at President Jun...

EPC Blog: The new European Commission – a closer look at President Juncker’s vision for the EU internal market and Economic and Monetary Union.

22 October 14

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Following approval of the College of Commissioners by the European Parliament on 22 October 2014, the new European Commission led by President Jean-Claude Juncker takes office on 1 November 2014 for a five-year term. Details on the process of the appointment of the Commission are set out in Article 17 of the consolidated version of the Treaty on European Union.

The Commission is the driving force in proposing European Union (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. The right to organise the work of the European Commission is the prerogative of its President.

The Commission is also a principal driver of the Single Euro Payments Area () initiative aimed at furthering the integration of the internal market and strengthening the 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” (European Commission Website). 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. 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.

Etienne Gosse, Secretary General of the European Payments Council (), takes a first look at the following projects of the incoming Juncker Commission, which can be expected to impact the further integration of the euro payments market: ‘A Deeper and Fairer Economic and Monetary Union’; ‘A New Boost for Jobs, Growth and Investment’ and ‘A Connected Digital Single Market’ (see the Blog published on 23 October 2014 included in the ‘related links’ below).

 



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