The Executive Vice President of the European Commission for An Economy that Works for People is the member of the

European Commission The European Commission (EC) is the executive of the European Union (EU). It operates as a cabinet government, with 27 members of the Commission (informally known as "Commissioners") headed by a President. It includes an administrative body ...

responsible for economic and financial affairs. The position was previously titled ''Commissioner for Economic and Monetary Affairs and the Euro'' and ''European Vice President for the Euro and Social Dialogue'' from 2014 to 2019. The current Executive Vice President is

Valdis Dombrovskis Valdis Dombrovskis (born 5 August 1971) is a Latvian politician serving as Executive Vice President of the European Commission for An Economy that Works for People since 2019 and European Commissioner for Trade since 2020. He previously serve ...

( EPP).

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 The economy of the European Union is the joint economy of the member states of the European Union (EU). It is the third largest economy in the world in nominal terms, after the United States and China, and the third one in purchasing power p ...

). It has grown particularly with the

late 2000s recession The Great Recession was a period of marked general decline, i.e. a recession, observed in national economies globally that occurred from late 2007 into 2009. The scale and timing of the recession varied from country to country (see map). At t ...

and is now having to deal with getting the EU's public finances back into shape, as many members are breaking EU rules on budget deficits.Who’s who in the new Commission
Financial Times November 2009 The DG responsible to the Commissioner is the

Directorate-General for Economic and Financial Affairs The Directorate-General for Economic and Financial Affairs (DG ECFIN) is a Directorate-General of the European Commission. The DG ECFIN is located in Brussels, Belgium, and Luxembourg. Its main responsibility is to encourage the development of Ec ...

, headed by Marco Buti. There are a number of other economic-related Commissioner positions in the college: * Industry and Entrepreneurship – ''Office abolished'' * Internal Market – currently

Thierry Breton Thierry Breton (; born 15 January 1955) is a French business executive, politician, writer and the current Commissioner for Internal Market of the European Union. Breton was vice-chairman and CEO of Groupe Bull (1996–1997), chairman and CEO o ...

Competition Competition is a rivalry where two or more parties strive for a common goal which cannot be shared: where one's gain is the other's loss (an example of which is a zero-sum game). Competition can arise between entities such as organisms, indiv ...

– currently

Margrethe Vestager Margrethe Vestager (; born 13 April 1968) is a Danish politician currently serving as Executive Vice President of the European Commission for A Europe Fit for the Digital Age since December 2019 and European Commissioner for Competition since ...

Trade Trade involves the transfer of goods and services from one person or entity to another, often in exchange for money. Economists refer to a system or network that allows trade as a market. An early form of trade, barter, saw the direct excha ...

– currently

Phil Hogan Phil Hogan (born 4 July 1960) is an Irish Fine Gael politician who served as European Commissioner for Trade between 2019 and 2020, and previously European Commissioner for Agriculture and Rural Development between 2014 and 2019. He previously ...

Economy An economy is an area of the production, distribution and trade, as well as consumption of goods and services. In general, it is defined as a social domain that emphasize the practices, discourses, and material expressions associated with the ...

– currently

Paolo Gentiloni Paolo Gentiloni Silveri (; born 22 November 1954) is an Italian politician who has served as European Commissioner for Economy in the von der Leyen Commission since 1 December 2019. He previously served as prime minister of Italy from December ...

* Financial Programming and the Budget – currently

Johannes Hahn Johannes Hahn (born 2 December 1957) is an Austrian politician who has served as European Commissioner for Budget and Administration under Ursula von der Leyen since 1 December 2019. He previously served as European Commissioner for European Ne ...

Energy In physics, energy (from Ancient Greek: ἐνέργεια, ''enérgeia'', “activity”) is the quantitative property that is transferred to a body or to a physical system, recognizable in the performance of work and in the form of hea ...

– currently Kadri Simson * Consumer Protection – ''Office abolished'' There have been suggestions from politicians such as

Ségolène Royal Marie-Ségolène Royal (; born 22 September 1953) is a French politician who was the Socialist Party candidate for the Presidency of France in the 2007 election. Royal was president of the Poitou-Charentes Regional Council from 2004 to 201 ...

that there should be an economic government for the

eurozone The euro area, commonly called eurozone (EZ), is a currency union of 19 member states of the European Union (EU) that have adopted the euro ( €) as their primary currency and sole legal tender, and have thus fully implemented EMU polici ...

, and at the start of the

Barroso Commission The Barroso Commission was the European Commission in office from 22 November 2004 until 31 October 2014. Its president was José Manuel Barroso, who presided over 27 other commissioners (one from each of the states composing the European Uni ...

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.THE NEW COMMISSION – SOME INITIAL THOUGHT
BM Brussels In October 2011 the position gained added responsibility for the euro, particularly

reform and bail outs, and was made a vice president.José Manuel Durão Barroso President of the European Commission Speech by President Barroso: Briefing on the conclusions of the European Council of 23 and 26 October 2011 European Parliament Strasbourg, 27 October 2011
European Commission

List of commissioners

As Economic and Finance Commissioner, Robert Marjolin served in both Hallstein Commissions and Henning Christophersen served in all three Delors Commissions.

References

External links

Rehn's website

{{DEFAULTSORT:European Commissioner For Economic And Financial Affairs Eurogroup Economic and Monetary Affairs Commissioner Economic

Responsibilities

List of commissioners

See also

References

External links