McGuinness and Dombrovskis: people come first in leading EU finance and trade




02 Oct 2020


United States



McGuinness and Dombrovskis: people come first in leading EU finance and trade
Mairead McGuinness, Irish MEP, Commissioner-designate, on 1:52

My vision for financial services centres on the sector's strength and stability. For its own sake, but also so it can deliver for society, and indeed now for sustainability and our environment. 2:05

CB off The EPP Group's Mairead McGuinness facing her peers in a confirmation hearing to become the next European commissioner for financial services, financial stability and the Capital Markets Union. As the EU rebuilds from the COVID-19 crisis.

McGuinness on 1:26 In my very first mandate, one of the big issues I dealt with was a financial one. From 2006 to 2007 I chaired a special parliamentary committee of inquiry into the crisis at the Equitable Life Assurance Society. I can still recall distressed policy holders from many Member States making contact with me. That experience frames my approach to financial issues: putting people front and centre. 1:51

CB off As European Parliament First-Vice President, McGuinness would bring 16 years of experience as an MEP on a wide range of committees.

CB off In another confirmation hearing, Commission Executive Vice-President Valdis Dombrovkis sought approval as trade commissioner. He already leads the Commission's economic policy.

Valdis Dombrovskis, European Commission Vice-President 13:17:46 (from start of speech at 13:17)
I propose to drive our trade policy forward, in order to:
- reform the rules-based multilateral order;
- rethink trade policy to deliver for our sustainability goals;
- reinforce free and fair trade.

CB off A former EPP Group member of Parliament from Latvia, Dombrovskis assumes the post just as the EU is negotiating a post-Brexit trade agreement with the UK, as well as other international trade accords.

Dombrovskis on 13:17
I will bring forward a new roadmap for our trade policy.
This roadmap must fit into our wider plan for a sustainable and digital recovery.
It must be modern and up-to-date, in support of our values and wider geopolitical goals. It must maximise opportunities for our companies around the world.
It must strengthen our toolbox to defend ourselves from unfair practices.
It must leverage our strength as the world’s trading powerhouse.

CB off Dombrovskis says he plans to propose reform at the World Trade Organisation, and to ensure that trade helps drive Europe's green transition.

CB off The next steps in the confirmation process: meetings to assess the hearings. The heads of the political groups review the conclusions on 6 October, then there’s a full parliamentary vote the next day.
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  • Laura Barrios
    EPP TV Assistant Producer