On 7 October 2014, Jonathan Hill, Member designate of the EC in charge of Financial Stability, Financial Services and Capital Markets Union, awas heard by the Committee on Economic and Monetary Affairs of the European Parliament to test his general competences, European commitment and specific expertise related to her portfolio. Jonathan Hill had the opportunity to make an opening statement, he took part in a question and answer session and made a closing statement.Although the Parliament can only vote on the Commission as a whole, a negative assessment of one of the candidates has in the past already led to the candidacy being withdrawn and replaced. Jonathan Hill was Leader of the British House of Lords.

Brussels

exchange of views

WOOLFE, Steven (NI, UK)

Committee on Economic and Monetary Affairs

GIEGOLD, Sven (Greens/EFA, DE)

hearing

GOULARD, Sylvie (ALDE, FR)

SWINBURNE, Kay (ECR, UK)

HILL, Jonathan (UK)

FERREIRA, Elisa (S&D, PT, EC)

hearing of Jonathan HILL (T)

Additional hearing of Jonathan HILL (United Kingdom), Commissioner-designate in charge of Financial Stability, Financial Services and Capital Markets Union: extracts

SOUNDBITE (English), Jonathan Hopkin HILL,  Commissioner-designate in charge of Financial Stability, Financial Services , "When I said last week that I was looking forward to seeing you again (Laughs from the audience), there is an old saying in English about being careful about what you wish for"

SOUNDBITE (English), Jonathan Hopkin HILL, Commissioner-designate in charge of Financial Stability, Financial Services , "If we'll work together and hold our  course I believe we can build a more resilient, stable an globally competitive financial services industry that finances long term growth and delivers better for EU citizens and businesses" 

SOUNDBITE (English), Jonathan Hopkin HILL, Commissioner-designate in charge of Financial Stability, Financial Services , "I will be a European commissioner for all 28 and I will work with you as hard as I know how to make this vision a reality."

SOUNDBITE (English), Jonathan Hopkin HILL, Commissioner-designate in charge of Financial Stability, Financial Services, (answering  a question by Pablo Zalba BIDEGAIN (EPP, SP) "Yes, I think it is important the nature of the cooperation between us and the United States is entrenched within TTIP, so that we can have more muscle and a  framework behind it.On the capital Union Market I think that our overall aims are that investors can have a degree of confidence and protection when they are making their investment.'

SOUNDBITE (English), Jonathan Hopkin HILL, Commissioner-designate in charge of Financial Stability, Financial Services ,  "We want to encourage of course the free flow of capital, to do that, I think we need to create a single market for European financial instruments to help foster funding for SMEs in particular and other long term projects."

SOUNDBITE (English), Elisa FERREIRA (S&amp;D, PT), MEP, "The role of the European Commission as foreseen in treaties is not to wait for the Council of ministers to be ready to accept proposals.Does you answer mean that you will not be ready to fulfil your institutional role and honour  the position and the promises of the Commission by putting forward a proposal for a common guaranty of deposit before 2019"

SOUNDBITE (English), Jonathan Hopkin HILL, Commissioner-designate in charge of Financial Stability, Financial Services , "I would be ready to consider alternatives before July 2019, but I would do so in  the light of circumstances at the time but I certainly undertake to keep that under review and to be opened to discussing it with members of this Committee in advance of that date."

SOUNDBITE (English), Kay SWINBURNE (ECR, UK), MEP, "If you could actually try and give us an idea of how you going to make the SMEs growth market accessible tfor both investors and consumers?

SOUNDBITE (English), Jonathan Hopkin HILL, Commissioner-designate in charge of Financial Stability, Financial Services , "In terms of where the money comes from I don't mind whether it is coming from bank funding or other alternative funding but under the Capital Markets Union we need to increase the diversity of that funding.We have to make sure that SMEs who take that first step to try and rise capital, that the administrative burden on them are proportionate and appropriate and that they have fewer obligations in terms of complying with things like auditive accounts."

SOUNDBITE (English), Sylvie GOULARD, MEP, "Do you agree to say that we will cooperate with the others, and that we will discuss the matter as much as possible between us, but you will be ready to defend European specificities  and that it not so much about harmonizing than finding the right solutions?

SOUNDBITE (English), Jonathan Hopkin HILL, Commissioner-designate in charge of Financial Stability, Financial Services , "The best way to insure effective regulation and supervision in an international context is equivalent.It can't be a one way street and other jurisdictions must have in place effective  mechanisms themselves to recognise the validity of our rules.So that I think would be the way I would attempt to proceed with the job when I am in these international fora, which I hope you would agree is a practical and I hope outcome based way forward."

SOUNDBITE (English), Sven GIEGOLD (Greens/EFA, DE), MEP, "By not giving even only one example for the companies you worked for, this as strengthens this feeling of distrust, so therefore again are you ready at least to give some examples of names of companies for which you lobbied?"

SOUNDBITE (English), Jonathan Hopkin HILL, Commisioner designate in charge Financial, Financial Services, <p>"The financial services side of our business was not a side which I was particularly involved in the side that you would call lobby the public affair side was a small proportion of the business. The business was basically in public relation business.So I think in all  honestly this is a hearing I have no interest I will not do anything that brings the high dignity and honour of this office, this commission the European union into dishonour I will not do that and I will behave properly with all the integrity that I have at my disposal.".</p>

SOUNDBITE (English), Steven WOOLFE (EFDD, UK), MEP, "You no doubt predicted that you would be sitting  in this chair again today, I suggest your crystal ball is faulty, so therefore can you tell us whether you predicted that this committee would vote for you to stay as the Commissioner? 

SOUNDBITE (English), Jonathan Hopkin HILL, MEP, I think that when the argument is joined, when people hear, that people in Britain , that business large and small whose livelihood and therefore their jobs depends on being part of a strong Europe in a single market, they will want to stay in. (applause from the audience)