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EA home page » Commentary » Michel Barnier is a bad choice for the portfolio of the Single European Market
Michel Barnier is a bad choice for the portfolio of the Single European Market
French government is spending a lot of diplomatic energy to secure Michel Barnier as the EU commissioner for the single market in a possible future team led by Barroso. The position is one of the most strategic ones within the European executive after the presidency as it involves to oversee financial markets and regulations. For several member states and for the lobbies of the City of London, the appointment of a French to that post would amount to leave a fox to look after a henhouse. Indeed, contrary to Great Britain, France and Germany are defending the principles of a strong regulation to solve some of the issues raised by the financial crisis, and some are afraid that they would impose their agendas upon the rest of Europe. To entrust one of the three main conflicting-over-regulation countries with the portfolio of internal market would let people believe that the dice are loaded and the debate is distorted. This could prevent fundamental and necessary discussions from peacefully taking place at a time where such debates are required with a particular attention to details regarding each of the proposed reforms. Suspicion would taint every initiative taken by a commissioner who would be perceived as too much of a partisan, despite the fact that Michel Barnier is probably one of the most Europhile civil servants and politicians. The EU consisting of 24 other member states, finding a firm and competent commissioner amongst them should be possible to allocate this sensitive portfolio. More financial and economic news at breakingviews.com Full Le Monde article here.
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