Mairead McGuinness named as Ireland's new European Commissioner

Mairead McGuinness named as Ireland's new European Commissioner

Mairéad McGuinness MEP has been named as Ireland's new EU Commissioner.

She will instead take responsibility for the Financial Services and Financial Stability and Capital Markets post.

McGuinness, who was chosen over the Irish government's other nominee, Andrew McDowell, is the current first vice-president of the European Parliament.

"However, the Government firmly believes that both candidates have demonstrated that they have experience, skills and capacity to serve and to make a contribution in the most demanding roles".

Ms McGuinness is now vice-president of the European Parliament, while Mr McDowell was vice-president of the European Investment Bank (EIB) until recently.

The Fine Gael MEP will take over the financial services and financial stability portfolio.

Instead, the post of trade commissioner now goes to European Union veteran Valdis Dombrovskis, a former Latvian prime minister who is seen as a steady pair of hands for one of the bloc's most sensitive jobs.

"Ms. McGuinness has significant political experience on EU issues, having been an MEP since 2004 and now holding the post of first Vice-President of the European Parliament".

"I would like to express my thanks to Mr McDowell for his application and wish him well in his future endeavours".

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"The financial services portfolio cuts across all policy areas".

He also paid tribute to Ms McGuinness saying: "Mairead is an excellent MEP and I have always supported her in the role". The EU Green Deal will require sustainable finance to drive actions across all sectors of the economy.

Taoiseach Micheál Martin said Ms McGuinness would serve with distinction as he congratulated the new commissioner.

"As an MEP for sixteen years, I have seen at first-hand how the European Union is a positive force for change".

Mr Phelan said that ICSA was looking forward to continuing to work closely with Commissioner McGuinness over the coming months and years.

Former Latvian prime minister Valdis Dombrovskis has been given the Trade portfolio, left vacant following the resignation of Phil Hogan.

Congratulations to @MaireadMcGMEP on her appointment as European Commissioner in an important financial portfolio.

"It's a great day for her and her family", he said.

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