European Commissioner for Financial Stability, Financial Services and Capital Markets Union

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European Commissioner for Financial Stability, Financial Services and Capital Markets Union
AppointerJean Claude Juncker[1]
Term lengthFive years
Salary€19,909.89 per month[2][3]
WebsiteEuropean Commission

The Commissioner for Financial Stability, Financial Services and Capital Markets Union is the member of the European Commission responsible for banking and finance. The current Commissioner is Valdis Dombrovskis.

Responsibilities[edit]

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The post is responsible for the ensuring that financial markets are properly regulated and supervised so that they are stable, competitive and transparent, at the service of jobs and growth. This includes the full implementation of the Banking Union. They are also responsible for establishing a Capital Markets Union by 2019 for all 28 Member States of the EU,[4] and maximising the benefits of capital markets and non-bank financial institutions for the rest of the economy, and in particular SMEs.

In addition, the post is responsible for proposing measures to make financial services work better for consumers and retail investors, and promoting global consistency in regulation and the implementation of agreed standards and principles in cooperation with international partners.[5]

See also[edit]

References[edit]

  1. ^ Hill was proposed by the Government of United Kingdom, with the post of Financial Stability, Financial Services and Capital Markets Union being assigned by Juncker. The whole Commission was then nominated by the Council of the European Union and approved by the European Parliament.
  2. ^ REGULATION No 422/67/EEC, 5/67/EURATOM OF THE COUNCIL, EurLex
  3. ^ Base salary of grade 16, third step is €17,697.68: European Commission: Officials' salaries – accessed 19 March 2010
  4. ^ European Commission, Capital markets union action plan, accessed 9 May 2018
  5. ^ European Commission: Commissioner Jonathan Hill, European Commission November 2014

External links[edit]