| Series Title | EurActiv |
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| Series Details | 30.9.11 |
| Publication Date | 30/09/2011 |
| Content Type | News |
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EurActiv reported that proposals to create a new institutional set-up for the eurozone's economic governance would be on the agenda of the European Council summit in October 2011 and discussed by Member States governments. Ahead of this meeting and cornered by increasing pressures to hand over powers to member states, the European Commission was said to be entertaining the idea of one of its own Commissioners, Olli Rehn, becoming the President of the Eurogroup, while European Council President Herman Van Rompuy would chair the new, regular bi-annual summit meetings of Eurogroup leaders. Subsequently, on the 27 October 2011 following the European Council and eurozone summits of the 23 and 26 of October 2011 European Commission President Jose Manuel Barroso announced he had decided to reinforce the role of the Commissioner competent for economic and monetary affairs by elevating the post to that of Vice-President, and giving the post-holder additional working instruments. The Vice President – Olli Rehn – would assist the President on all matters relating to the work of the European Council, Euro Area summits and economic governance. Consistent with the role of the European Commission as the day-to-day economic manager of the European Union and without prejudice to the President's own role, Vice President Rehn would also exercise the Commission's responsibilities in the external representation of the Euro area. |
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| Source Link | http://www.euractiv.com/euro-finance/rehn-take-juncker-head-eurogroup-news-508030 |
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| Subject Categories | Economic and Financial Affairs |
| Countries / Regions | Europe |
