Today the Committee on Economic and Monetary Affairs held a hearing with the Commissioner-designate Mairead McGuinness. McGuinness is the candidate to succeed the resigned Irish Commissioner Hogan. McGuinness would take over the financial market portfolio from Commission Vice-President Dombrovskis, while the latter is to take over the trading portfolio. McGuinness is a committed and strong MEP who is more open to climate protection, consumer interests and social issues than many other MEPs in the Christian Democrat conservative political group. However, she as many other Irish MEPs have repeatedly voted against more tax harmonisation in Europe. In her written and oral answers McGuinness has committed herself to strong consumer protection in financial markets and sustainable finance. She also promised bold measures against money laundering.<\/p>\n
MEP Sven Giegold, financial and economic policy spokesperson of the Greens\/EFA group commented:<\/p>\n
There has never been more financial market consumer protection in the EU Commission. McGuinness has proven time and again that she stands up for consumers and will now do so in the financial sector as well. Her promise to look at the harmful effects of commission-based distribution methods was very strong. All retail investors must finally get full access to the best and most profitable financial products.<\/em><\/p>\n McGuinness has also made a clear commitment to make Green Finance a priority. We Greens are looking forward to the promised ambitious action plan 2.0 for sustainable finance. Sustainable finance is crucial to ensure that Europe’s major investment push for the Green Deal is successful.<\/em><\/p>\n