LORD Hill is unlikely to be stripped of his banking union brief despite reports to the contrary, a senior UK member of the European parliament told City A.M. last night.
Following a day of uncertainty for Hill, the UK’s new man in the EU, British MEPs are confident that he has done enough to secure his place as commissioner for financial services following a strong second appearance before the parliament.
Hill had been recalled for further questioning following his first appearance last week, which disappointed MEPs harbouring concerns about his support for the single currency, of which the UK is not part. British MEPs rallied round Hill, offering advice on how to woo EU members and win the vote. In his second hearing, which a senior source dubbed “very impressive”, Hill made it clear that he would serve the EU as a whole if appointed.
MEPs will decide over the coming days whether Hill should be awarded the financial services portfolio, stripping him of the role would be a heavy blow to Prime Minister David Cameron. A full EU parliament vote on the new European Commission, headed by Jean-Claude Juncker, will take place later this month.