Implementation of new EU legislation relating to financial services could yet be held up longer than anticipated as proposed EU Commission president Jose Manuel Barrosso may not get official approval on his team for three more weeks.
The furore over the last week concerning the proposed appointment of Italy’s nominated commissioner, Rocco Buttlione as Justice and Home Affairs Commissioner after his comments about women, homosexuals and single mothers has now resulted in further delays to a vote on the proposed EU commission.
That means presentation of the new EU Commission is unlikely to be seen until around 16 November at the earliest followed by a vote on 17 November.
Any work which needs to be done in relation either to competition concerns or design of new financial services regulation could now be held up further as replacements for the current Internal Markets Commissioner have yet to be confirmed.
At present, Fritz Bolkenstein still holds the position but is expected to be replaced by Charlie McCreevy from Ireland, if the European Parliament approves the vote.
Neelie Kroes from the Netherlands is currently proposed as the Competition Commissioner and Ingrida Udre from Latvia is at present the proposed Taxation and Customs Union Commissioner, despite what are thought to be concerns about her appointment.
Romano Prodi will continue as head of a “caretaker” commission until disputes about the appointments are resolved.
Rejecting the proposed commission at this late stage is embarrassing for all as months of work has already been spent on finding suitable commissioners and allocating their roles in the various EU departments.IFAonline
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