Commissioner Barnier could do sterling work for Britain, says Labour MEP - 2010-01-12

The appointment of French politician Michel Barnier as the European Commission's Internal Market Commissioner will be "good for the EU and good for the UK" says leading MEP Peter Skinner. 

He argues that Barnier will be keen to show his independence from the French government, particularly following President Sarkozy's comments that "the English" were "the big losers" in the allocation of Commission portfolios.

Mr Skinner will be one of the lead questioners of Michel Barnier at the European Parliament's confirmation hearing on Wednesday afternoon (13th January).

Peter Skinner says "The appointment of someone French to the post should accelerate the creation of a single market in financial services, which will benefit London given our strength in capital markets and insurance.

"Barnier's appointment will bring the French government on board for EU efforts to integrate financial services, which can only help UK plc. He may even pick a fight or two with Paris in order to demonstrate his neutrality. 

"In any event, I know Barnier and I am relaxed about the future of the City of London with him as Commissioner. His approach will not be any more ambitious than what is already occurring in the UK. FSA supremo Adair Turner or the Bank of England's Mervyn King have more radical ideas to regulate the financial services sector than Barnier," he says.

The European Parliament hearing for Michel Barnier as the new Internal Market Commissioner will take place on Weds 13th Jan, 16.30-19.30 (CET). He will appear before two of Parliament's committees: ECON (Economic and Monetary Affairs), and IMCO (Internal Market and Consumer Protection).

He will answer a range of questions from MEPs sitting on these committees, and will be expected to answer additional written questions. The European Parliament cannot reject the appointment of an individual MEP such as Barnier, but it can reject - or threaten to reject - all 27 Commissioners if it is unhappy with one or more of them.

Peter Skinner, Labour MEP from the South-East region, is a senior member of the Economic and Monetary Affairs committee. He is one of the three MEPs responsible for seeing the current European Commission proposals, for the creation of EU supervisory authorities for banking, insurance and pensions and securities markets, through Parliament   

He is also the responsible MEP for the implementation of the Solvency II legislation for the EU's insurance industry.

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