Chambers Ireland welcomes nomination of Mairead McGuinness as European Commissioner designate

Chambers Ireland welcomes the nomination of Mairead McGuinness, by the European Commission President Ursula von der Leyen, as the EU’s next Commissioner designate for Financial Services, Financial Stability and the Capital Markets Union.

Speaking yesterday (8th September 2020), Chambers Ireland Chief Executive Ian Talbot wished the new Commissioner-elect well in this important financial portfolio ahead of Brexit and the challenges that Covid-19 continues to pose for the European Union.

“Commissioner-designate McGuinness brings a wealth of political experience on EU issues to this role, having been an MEP since 2004 and currently holding the post of First Vice-President of the European Parliament.

Her experience from various EU portfolios will be crucial in carrying forward the EU’s financial sector policy agenda and ensuring it supports and strengthens the Commission’s key priorities, notably the green and digital transition.

Ms. McGuinness has been very supportive of the Chamber network and business across Ireland throughout her time as an MEP. We urge her to continue this support in advancing a progressive SME-friendly financial and trading environment as she addresses issues such as the possible introduction of an EU financial transaction tax.

Financial services is a significant brief that involves working on the creation of a single market for capital in the EU, and leading reforms of the financial and banking industry aimed to strengthen stability and avoid repeats of past economic crises. This portfolio will also be significant in the context of Brexit and the obstacles it poses to UK financial services institutions and their future access to EU markets.”