Financial Regulatory Forum

EU economy, tax nominees may face second grilling

By John O’Donnell

BRUSSELS, Jan 14 (Reuters) – One of the European Union’s top lawmakers has said she may demand a second hearing to quiz the bloc’s designated tax and economics chiefs before the committee she leads decides whether to approve their appointments.

The remarks by Sharon Bowles, who leads the influential economic and monetary affairs committee, cast uncertainty over the line-up of the next European Commission, in particular the would-be tax chief, who has already faced criticism.

“I would have liked more questioning time with him,” Bowles said of Algirdas Semeta, the Lithuanian candidate to take charge of EU taxation whose answers at a European Parliament hearing were described by socialists as unconvincing.

Commenting on Finland’s Olli Rehn, the candidate to become the 27-country bloc’s economic and monetary affairs chief, Bowles said: “On many things he was strong and interesting. On other things we would have liked more information.”

Bowles said she may seek a second hearing with both. She signalled this was more likely for Semeta than Rehn, who is already an EU commissioner and has faced little criticism following his appearance before lawmakers to win their approval.

New EU finance watchdogs seen muzzled on companies

By Jonathan Gould
FRANKFURT, Nov 18 (Reuters) – Three new pan European Union financial watchdogs being set up next year are expected to have limited powers when it comes to individual markets and companies, officials said.