Brussels, 21/01/2011 (Agence Europe) - On Tuesday 1 February 2011, the European Parliament's Economic and Monetary Affairs Committee is due to have a hearing with the three new heads of the European Supervision Authorities (ESAs) - one for banking, one for insurance and pensions and one for securities.
The MEPs' attitude will be closely monitored at the hearings because the EP has the power to veto the appointments (see EUROPE 10293 and 10291). In a letter to EU Internal Market Commissioner Michel Barnier before the European Commission drew up its shortlists for the three ESA chiefs, the coordinators of the Economic and Monetary Affairs Committee expressed 'surprise' and 'disappointment' that there were fewer than three names on some of the shortlists. They pointed out that it is striking that such a paucity of candidates were considered high enough quality and called on Commissioner Barnier to extend the appointment procedure until 1 February. The Commission, however, went ahead as initially planned.
Selected to head the European Banking Authority, Italy's Andrea Enria is currently head of the bank supervision department at Italy's central bank. If the appointment is confirmed, would the new job give him enough clout to force his erstwhile employer, if necessary, to act in compliance with decisions taken by the new EU authority? Some commentators point out that the salary of the new heads of the ESAs are often well below those of the chairs of national supervision authorities and this have may put off potentially more prestigious candidates. The response to this at the Commission is that the pay is in accordance with established pay scales and is the same as that of a Director-General at the European Commission.
The individuals nominate to chair the European Securities Market Authority (ESMA) and the European Insurance and Occupational Pensions Authority (EIOPA) respectively are Steven Maijoor of the Netherlands and Gabriel Bernardino of Portugal. (M.B. trans fl)