NEW COMMISSION/INTERNAL MARKET : BARNIER PRESENTS AMBITIOUS PROGRAMME UNDERPINNED BY ETHICS.

Michel Barnier, unquestionably well prepared and at ease among his former colleagues, put in a convincing performance at his hearing by members of the European Parliament. At the conclusion of the three-hour exam, many MEPs welcomed the commitment and European vision of the commissioner-designate assigned the internal market and financial services portfolio. Barnier, who served as regional policy commissioner from 1999 to 2004, described himself as "a politician [ ] before politicians" to express his attachment to the institution that will have to approve him.

Determined to mark a break with his predecessor, Charlie McCreevy (Ireland), the champion of self-regulation, Barnier presented a proactive programme and a pragmatic approach and defended social concerns. His hearing was primarily focused on a better legal framework for financial services and on relaunch of the internal market, but first he made a point of explaining his method.

"UNDERSTAND IN ORDER TO ACT"

Barnier will take action to end an "era of irresponsibility," but first plans to take stock of existing legislation and to meet all internal market and financial services stakeholders with a view to understanding the problems and exchanging best practice. He intends to introduce a pragmatic approach based on openness, involving Parliament more closely and relying on social and environmental impact studies, among others.

"I am committed to going out into the field, [ ] in the 27 capitals" in order to understand obstacles to transposition, to prepare future legislation "and to meet you as often as you consider necessary," he stated. His vision consists of "restoring people's confidence in European integration" and "putting markets at the service of sustainable growth". "I am fighting for a fairer world. I want Europe to lead that world," he said.

"REGULATING" AND REASSURING

If Barnier was convincing on any particular point, it was without a doubt on his determination to reform the financial sector. "This crisis is too serious. [ ] We are going to reform." "No markets, no players, no products, no territories must be beyond the reach of relevant regulation and effective surveillance," he told members of the Committee on Economic and Monetary Affairs. Europe must be "the world's first region to learn the lessons of the crisis". To ensure success, he plans to adopt the road map of the G20 agreed in Pittsburgh and will build on the work of Jacques de la Rosiere. Barnier intends to...