The United Kingdom have certainly left there imprint in Brussels with the appointment of Lord Jonathan Hill as the chief of financial services in the European Commission.
The appointment, which has somewhat been well known since July of this year, is still considered rather unexpected considering fact that the former leader of the House of Lords is a relatively unknown figure outside of Westminster. There were a number of former senior ministers that were tipped for a nomination, including Lord Howard and Andrew Lansley, but instead it was Lord Hill who was given the nod and now the his position of EU commissioner has been confirmed.
His new post will be a huge boost for the UK, after Prime Minister David Cameron had originally feared that New European Commission President Jean-Claude Juncker, Hill’s new boss, would discard his nomination, after Cameron opposed Juncker’s stand for election earlier this year.
David Cameron, who was in Scotland campaigning against Scottish Independence, spoke about the importance of the appointment for the United Kingdom by stating, “I think that is a great piece of news because 40 per cent of Europe’s financial services industry is in the United Kingdom.” He also said it would also be very beneficial to have someone working “right at the heart of the European Commission”, as it would help make sure that the financial service industry in Britain could continue to get stronger and stronger.
Lord Hill expressed his honour at the appointment and welcomed the responsibility that comes with running a majorly powerful new department within the European Commission and he believes that this department will eventually reshape this significantly important sector within the European economy. With revenues rising all the time, as David Hennah wrote for MISYS, it is incredibly important for Hill to start his new reign as efficiently as possible.
Hill, speaking on his targets for his new post stated, “Nothing is more important in the years ahead than creating the right conditions for jobs and growth, and I look forward to playing my part in that task and in building a stronger Europe.”
Hill is under oath to not take any demands from any government and that he should act solely in the interests of the European Union, and not the United Kingdom.
