July 30 Jean-Claude Juncker, the incoming
European Commission president, is considering creating an EU
financial services directorate charged with regulating the
London financial scene and ensuring stability in the region, the
Financial Times reported.
The plans would give a single commissioner a united
financial services portfolio, the FT said. Some London-based
banks fear this will tilt wider EU financial policy towards the
eurozone, it added. (on.ft.com/1nK9Gfg)
The FT said, without citing sources, that potential
candidates for the role included former Finnish Prime Minister
Jyrki Katainen, Dutch Finance Minister Jeroen Dijsselbloem and
former Latvian Prime Minister Valdis Dombrovskis.
EU financial regulation is currently overseen by Internal
Market Commissioner and former French Foreign Minister Michel
Citing senior officials, the FT said the new directorate
would likely move banking and markets units from Barnier's
division, combining them with the financial stability unit
stripped from the department for Economic and Financial Affairs.
The exact form of the new department is unclear and a final
decision has yet to be taken, the report added.
Representatives at the European Commission could not be
reached for comment outside of regular office hours.
(Reporting by Richa Naidu in Bangalore; Editing by Dan Grebler)