European Commissioner for Economic and Monetary Affairs and the Euro

European Commissioner for Economic and Monetary Affairs and the Euro
European Commissioner for Economic and Monetary Affairs and the Euro
Olli Rehn

since 9 February 2010
Appointer Jose Manuel Barroso[1]
Term length Five years
Inaugural holder Robert Marjolin
Formation 1958
Salary €19,909.89 per month[2][3]
Website European Commission

The Commissioner for Economic and Monetary Affairs and the Euro[4] is the member of the European Commission responsible for economic and financial affairs. The current Commissioner is Olli Rehn (ELDR).



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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). It has grown particularly with the late 2000s recession and his now having to deal with getting the EU's public finances back into shape, as many members are breaking EU rules on budget deficits.[5]

The DG responsible to the Commissioner is the Directorate-General for Economic and Financial Affairs, headed by Marco Buti.

There are a number of other economic-related Commissioner positions in the College;

There have been suggestions from politicians such as Ségolène Royal that there should be an economic government for the eurozone,[6] and at the start of the Barroso Commission Germany suggested an economic "super-commissioner"[7] – which could see a change in this position. That idea however was dropped but the Enterprise and Industry Commissioner was strengthened in response.[8]

In October 2011 the position gained added responsibility for the euro, particularly eurozone reform and bail outs, and was made a Vice President.[4]

List of commissioners

Name Country Period Commission
1 Robert Marjolin  France 1958–1967 Hallstein Commission
2 Raymond Barre  France 1967–1970 Rey Commission
3 Raymond Barre  France 1970–1972 Malfatti Commission
4 Raymond Barre  France 1972–1973 Mansholt Commission
5 Wilhelm Haferkamp  West Germany 1973–1977 Ortoli Commission
6 François-Xavier Ortoli  France 1977–1981 Jenkins Commission
7 François-Xavier Ortoli  France 1981–1985 Thorn Commission
8 Henning Christophersen  Denmark 1985–1995 Delors Commission
9 Yves-Thibault de Silguy  France 1995–1999 Santer Commission
10 Yves-Thibault de Silguy  France 1999 Marín Commission
11 Pedro Solbes  Spain 1999–2004 Prodi Commission
12 Joaquín Almunia  Spain 2004 Prodi Commission
13 Siim Kallas  Estonia 2004 Prodi Commission
14 Joaquín Almunia  Spain 2004–2010 Barroso Commission I
15 Olli Rehn  Finland 2010 onwards Barroso Commission II

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

See also


  1. ^ Rehn was proposed by the Government of Spain, with the post of Competition Commissioner being assigned by Barroso. The whole Commission was then nominated by the Council of the European Union and approved by the European Parliament.
  3. ^ Base salary of grade 16, third step is €17,697.68: European Commission: Officials' salaries – accessed 19 March 2010
  4. ^ a b 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
  5. ^ Who’s who in the new Commission, Financial Times November 2009
  6. ^ Royal v Sarkozy: The policies BBC News
  7. ^ 'Big three' strike deal on super commissioner, French VAT cuts, 1% ceiling

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