EU Commission reshuffle: trade and financial services portfolios move
European Commission President Ursula Von Der Leyen proposed that Irish MEP Mairead McGuinness from the European People’s Party (EPP) be appointed as future Commissioner for financial services.
This reshuffle, which will only come into effect if the European Parliament gives its agreement, was triggered by the resignation of Phil Hogan, the former Irish Commissioner for trade, on August 26.
Under this proposal, the financial services portfolio will move from Executive Vice-President Valdis Dombrovskis’ portfolio to McGuiness. In return, Dombrovskis will take on the powerful and much-coveted trade portfolio.