Ms McGuinness was nominated by the Irish Government last month following the resignation of former Commissioner Phil Hogan in the wake of the “Golfgate” scandal.
The Economic and Monetary Affairs Committee in the EU had three hours to ask questions of Ms McGuinness in an attempt to assess her suitability for the financial services portfolio before voting on the matter next Wednesday.
In her opening statement before the committee this morning, Ms McGuinness outlined her vision for the role should she be confirmed as Commissioner.
And above all else, a financial system that underpins a more inclusive society.
“A new digital finance strategy that stimulates innovation while being alert to the risks. A fair financial system with zero tolerance for money laundering,” she said.
“A strong financial sector that supports Europe’s place in an ever uncertain world. And above all else, a financial system that underpins a more inclusive society.”
Ms McGuinness also committed to looking at making it easier for people to obtain mortgages from other EU states in a move to ensure EU citizens can have easier access to financial services across the union.
We do need to get on with the business side... in terms of Commission policy, there’s big challenges in terms of Covid, we’ve shrinking economies across Europe, we need get the recovery fund up and running.
Member of the Economic and Monetary Affairs Committee, Ireland South MEP Billy Kelleher, said it is vital that Ms McGuinness clears this hurdle so that the Commission can get on with its work.
“It will move very quickly, and we do need to get on with the business side... in terms of Commission policy, there’s big challenges in terms of Covid, we’ve shrinking economies across Europe, we need get the recovery fund up and running,” he said.
“[There’s] Brexit in the background on a continual basis for the next number of weeks and months now, so we don’t need any further political distraction within the Commission.”
