Commissioner-designate Rehn studying up on economics

Economic & Monetary Affairs portfolio considered among weightiest

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European Commissioner Olli Rehn is fond of reading, which is a good thing. As of Friday he has been busy reading up on the fine details of European economic policy.
      On Friday, European Commission President José Manuel Barroso nominated Rehn, the outgoing Commissioner for Enlargement, to the post of Commissioner for Economic and Monetary Affairs.
      Barroso’s list of new commissioners still needs to be approved by the European Parliament, which can accept or reject Barroso’s entire list of proposals. However, it cannot take a stand on the suitability of individual measures.
      The proposed commissioners will start appearing before the Parliament in the second week of January, and although Rehn, a member of Finland’s Centre Party and therefore part of the Liberal group in the EU, is considered to have been successful in his previous post, he still needs to prepare himself well for the hearings; members of the Socialist group in the European Parliament would be especially keen to force Barroso, a political rival, to drop at least one of his nominees.
     
Barroso has said that the new Commission must guide the EU out of the economic crisis. At the same time the EU needs to establish new green jobs.
      “This is our most important task”, Barroso said in Brussels on Friday.
      Rehn’s input in this process is to be significant. The Commissioner for Economic and Monetary Affairs will try to make sure that EU member states, which are already seriously in debt, might mend their wasteful ways.
     
“I cannot and I will not put forward a comprehensive economic and monetary policy programme yet”, Rehn said on Friday.
      He looks forward to working together with Jean-Claude Juncker, the president of the eurogroup, and Prime Minister of Luxembourg.
      “I know Juncker well. If things do not work out with him I would have to look in the mirror.”
     
Speaking in his typically relaxed manner, Rehn said in Brussels on Friday that the portfolio that he was offered was at the top of his list of priorities from the very beginning.
      However, he would not put the various portfolios on the Commission into any order of importance.
      “It is like comparing apples and oranges.”
      Rehn’s portfolio also has international dimensions. The outgoing Economics and Monetary Affairs Commissioner Joaquin Almunia has taken part in the summit meetings and finance ministers’ meetings of the G20 countries.
      If the practice continues, Finland will get an unofficial channel for influencing global economic decision-making.
     
However, the members of the Commission do not represent their home countries - they are specifically mandated to represent the European Union as a whole. They are the highest civil servants of the EU who make proposals for legislation, and enforce existing laws.
      Rehn could also get a chance to oversee the enlargement of the euro zone. Estonia is hoping to join the euro in 2011. Denmark and Sweden are also outside the common currency, and there are chances that Iceland might apply to join both the EU and the euro.
     “There is no harm in the fact that the commissioner responsible for the enlargement of the euro zone speaks both a Finno-Ugric and a Scandinavian language”, Rehn noted.
     
Prime Minister Matti Vanhanen (Centre) said that he is very satisfied that Olli Rehn was offered the Economic and Monetary Affairs post on the Commission.
      Rehn’s appointment comes as a relief to Vanhanen, who is the negotiator for the EU Liberal group in appointment matters, particularly as the posts of EU President and Foreign Minister went to larger political groups.
     He noted that the post is especially important in the current economic crisis.
     “This will also be a very important portfolio in the so-called exit strategies after the economic crisis”, Vanhanen said.
     The Finnish government has feared that economic stimulus measures in the EU might end before Finland’s export-driven economy has risen from the recession.


Previously in HS International Edition:
  UPDATED: Rehn gets Economic & Monetary Affairs Commissioner post (27.11.2009)
  Olli Rehn focuses on economic affairs in preparation for EU Commission portfolio shuffle (17.10.2009)
  Olli Rehn named as Finland́s EU Commissioner candidate (1.10.2009)

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