Appointer Jean Claude Juncker Inaugural holder Robert Marjolin Salary €19,909.89 per month | Term length Five years Formation 1958 Website European Commission | |
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The Commissioner for Economic and Monetary Affairs and the Euro is the member of the European Commission responsible for economic and financial affairs. The current Commissioner is Valdis Dombrovskis (EPP).
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Responsibilities
The post is responsible for the European Union's economic, financial and monetary affairs, often combined with similar portfolios. This position is highly important due to the weight the European Union has economically worldwide (See: Economy of the European Union). It has grown particularly with the late 2000s recession and his now having to deal with getting the EU's public finances back into shape, as many members are breaking EU rules on budget deficits.
The DG responsible to the Commissioner is the Directorate-General for Economic and Financial Affairs, headed by Marco Buti.
There are a number of other economic-related Commissioner positions in the College;
There have been suggestions from politicians such as Ségolène Royal that there should be an economic government for the eurozone, and at the start of the Barroso Commission Germany suggested an economic "super-commissioner" – which could see a change in this position. That idea however was dropped but the Enterprise and Industry Commissioner was strengthened in response.
In October 2011 the position gained added responsibility for the euro, particularly eurozone reform and bail outs, and was made a Vice President.
List of commissioners
As Economic and Finance Commissioner; Robert Marjolin served in both Hallstein Commissions and Henning Christophersen served in all three Delors Commissions.