Mairead McGuinness: Meet the EU’s future finance boss
Mairead McGuinness was this week nominated as the new EU financial services commissioner following the recent resignation of her Irish counterpart and EU trade chief Phil Hogan.
Mr Hogan departs having found himself in the centre of a “golfgate” scandal, breaking lockdown rules by attending a dinner in County Galway, Ireland, with more than 80 people.
Former Latvian Prime Minister Valdis Dombrovskis, who is already the European Commission’s executive vice president, took over the vacant post.
Before McGuinness formally replaces Dombrovskis, her selection will be subject to a European Parliament vote.
The two, both members of the centre-right European People’s Party, are expected to work closely together as some of the EU trade commissioner’s responsibilities will be handed over to McGuinness.
The Irish MEP will take over FISMA’- the financial stability, financial services and capital markets union portfolio which includes implementing reforms to the financial and banking industries.
Who is the new EU finance commissioner?
Born in 1959, Mairead McGuinness grew up in the County Louth town of Ardee, Ireland.
She studied at University College Dublin, graduating in 1980 as the first female to gain a Bachelor of Science degree in Agricultural Economics.
McGuinness soon after embarked on a career in the media, becoming a radio producer at RTE and a researcher on the Late Late Show.
She was also a journalist with the Irish Farmers Journal, before becoming editor of the Irish Independent farming supplement.
McGuinness is married to Tom Duff, a sheep farmer, and have four children (Orlaith, James, Aine and Cathal).
Her political career began back in 2004, following her election as an Irish Fine Gael MEP to the European Parliament representing the Midlands-North-West constituency in Ireland.
Her 16-year tenure in European Politics has included serving on European Parliamentary committees such as Agriculture and Rural Development; Environment, Public Health and Food Safety.
McGuinness almost ran in the 2011 Irish presidential election, before becoming the first female vice president of the European Parliament in 2014.
Alongside being voted ‘MEP of the Year’ for agriculture in 2011 by fellow European Parliament members, her appointment as the future EU finance boss will be seen by many as a safe pair of hands.
Reaction
European Commission president Ursula von der Leyen recommended McGuinness for the role.
“Mrs McGuinness has significant political experience on EU issues, having been an MEP since 2004 and currently holding the post of first vice-president of the European Parliament,” Von der Leyen said.
Irish Taoiseach Micheal Martin also “welcomed” the selection.
He said: “The government put forward two candidates of the highest calibre for consideration to be the next European Commissioner from Ireland.
“The financial services portfolio is a hugely significant one and I am very pleased that this post has been secured for the commissioner designate.”
Speculations soon followed as to whether a further reshuffle would be needed.
William Wright, founder and managing director of think tank New Financial, tweeted: “Can any EU-ologists confirm: if @MaireadMcGMEP is confirmed as Commissioner for financial services, would this mean that John Berrigan – who has only been director general of DG FISMA since March – would have to step down down?
Finding a replacement
Candidates for McGuinness’ vacant position wasted no time in expressing their interest.
Speaking to the Dundalk Democrat on Monday, Councillor Colm Markey said: “I can confirm that I am first on the list and I would certainly be interested in taking up the position if the vacancy arises.”
Colm Markey has now been confirmed as the new MEP for Midlands North West constituency.
He said: “I have worked closely with my predecessor Mairead McGuinness for almost two decades and I wish her all the best in her new role as European Commissioner in what will be a crucial period with the challenges presented by Brexit and Covid-19 for the island of Ireland.”
Taking on the brief
The news of McGuinness as European Commissioner designate certainly raised eyebrows, given Ireland’s controversial tax avoidance schemes.
Spanish MEP Iratxe Garcia Perez tweeted: “Congratulations to Mairead McGuinness! Good news for a gender-balanced European Commission, a S&D demand.
“However, Ireland is not a fair tax player, and holding both FISMA and Eurogroup is not what the EU needs for a just and social answer to the crisis. Looking forward to the hearings.”
Perez leads the left-wing Progressive Alliance of Socialists and Democrats in the European Parliament, the second-largest grouping after the EPP.
Mairead McGuinness has faced criticism for her past voting record, as she and her fellow Fine Gael MEPs opted against a 2019 European Parliament resolution to enhance refugee rescue operations in the Meditterranean.
What is her stance on Brexit?
Mairead McGuinness has not shied away from engaging in Brexit debates.
Speaking to the Late Late Show back in January 2019, McGuinness explained why she did not believe there would be a hard border on the island of Ireland.
She said: “If you listen to Michel Barnier, he has a great understanding of the issue of the island of Ireland and the peace process and he was engaged in that and the whole founding of it.
“I think it is very difficult but the responsibility is not on our shoulders alone.
“The responsibility indeed at this stage is for the United Kingdom to live up to their commitments and the Withdrawal Agreement does that.”
The Irish MEP also famously clashed with arch-Brexiteer Nigel Farage over his flag-waving antics in the European Parliament at the start of this year.