BREAKING NEWS

BREAKING NEWS

Barnier reviewed for internal market, financial services top job

Now Reading:

Barnier reviewed for internal market, financial services top job

Text size Aa Aa

Veteran French politician Michel Barnier, slated for the European Commission’s EU internal market portfolio, has also had his three-hour hearing in the parliament. The post is one of the EU’s most powerful.

If confirmed, it would put Barnier in charge of overhauling financial services — an industry viewed by many as having caused the economic crisis.
Tighter policing of banks and rules to curb
runaway borrowing are on the cards.

Now an MEP, Barnier is also a former minister, having handled several national portfolios, and a former EU regional policy Commissioner.

He wants to avoid any flare-up over financial sector sensibilities, such as the one caused when French President Nicolas Sarkozy claimed Barnier’s appointment was a victory over free-wheeling Anglo-Saxon capitalism.