Valdis DOMBROVSKIS, Executive Vice President-designate for An Economy that Works for People, is heard by the Committee on Constitutional Affairs (AFCO) and Committee on Civil Liberties, Justice and Home Affairs (LIBE), in association with the Committee on Legal Affairs (JURI ) of the European Parliament in Brussels to test his general competences, European commitment and specific expertise related to his portfolio. Statements by Inese VAIDERE (EPP, LV), Nils UŠAKOVS (S&D, LV), Sara SKYTTEDAL (EPP, SE) and Valdis DOMBROVSKIS, Executive Vice President-designate, An Economy that Works for People.

Hearing of Valdis DOMBROVSKIS, Executive Vice President-designate, An Economy that Works for People: extracts from the hearing (2/2)

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SOUNDBITE (Latvian), Inese VAIDERE (EPP, LV), How do we deal with the Facebook proposal to have this new currency LIBRA? 

SOUNDBITE (English), Valdis DOMBROVSKIS, Executive Vice-President-designate, An Economy that Works for People, Currently we are really looking seriously into this LIBRA project, considering how important and significant companies are behind this. Of course it could have systemic effects, financial stability, monetary stability, data protection, AML. These are just a few aspects which need to be considered. So European Commission has currently requested the LIBRA association to provide accurate, more detailed information about their plans and we are still expecting to hear from them. Yes we will need to regulate LIBRA. 

SOUNDBITE (Latvian), Nils U&#352;AKOVS (S&amp;D, LV), You committed on different occasions including this morning's address about sustainable finance. So do you plan to coordinate one trillion euros for this initiative which is fantastic indeed. And question number one is could you outline please how you plan to finance this initiative?

SOUNDBITE (English), Valdis DOMBROVSKIS, Executive Vice-President-designate, An Economy that Works for People, As regards to the sustainable finance Europe investment plan, first of all there will be several work strands so first it is a financial work strand. So support from the EU Budget and EIB to attract the investment and also advisory support to create a pipeline of eligible projects. So we not only the need to mobilise money, we also need good quality projects which also enables sustainable transition. So as regards to the money, the aim is to mobilise one trillion euros for sustainable investment by leveraging private money via invest EU programmes, via EIB. As you know the target for climate financing has moved up from 25% to 50% and that is going to be fresh money. 

SOUNDBITE (English), Sara SKYTTEDAL (EPP, SE), I would like to know what measures could be taken to make sure that workers that are engaged in new forms of employment such as platform workers to get proper protection and decent living conditions while making sure not to undermine the growth potential in these new services or obstruct the digital transformation of the society?

SOUNDBITE (English), Valdis DOMBROVSKIS, Executive Vice-President-designate, An Economy that Works for People, Digitalisation is bringing new opportunities but also new challenges and working conditions is one. That's why when we will be preparing the action plan on the implementation of the European pillar on social rights, one of the work directions is going to be exactly the improvement of conditions of platform workers. Already now we came forward with several proposals on amendments to the directive on fair and predictable working conditions and on Council recommendation on access to social protection because what we need to ensure is regardless of new forms of work, as people in digital economies contribute to the social systems, and they are covered by their social systems. So that is the guiding principle in this work. 

Hearing of Valdis DOMBROVSKIS, Executive Vice President-designate, An Economy that Works for People: extracts from the hearing (2/2)

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AFCO - Committee on Constitutional Affairs

LIBE - Committee on Civil Liberties, Justice and Home Affairs