Statement by Olli REHN (Finland), Commissioner designate for Economic and Monetary Affairs, during his hearing at EP Committee on Economic and Monetary Affairs in Brussels.

Brussels

Committee on Economic and Monetary Affairs

REHN, Olli (ALDE, FI)

2010 Commissioners' hearings (T)

hearing of Olli REHN 2010 (T)

Hearing of Olli REHN (Finland), Commissioner-designate for Economic and Monetary Affairs: extracts

External view of the European Parliament.

Interior, Arrival of Olli REHN, Commissioner-designate for Economic and Monetary Affairs,Press photographer, 5 shots in total before the Hearing

SOUNDBITE (English), Olli REHN, Commissioner-designate for Economic and Monetary Affairs (part of the speech): The Economic and Monetary Affairs are the most important corner stone of the social market in Europe. I feel responsible to its goals.

SOUNDBITE (German), Olli REHN, Commissioner-designate for Economic and Monetary Affairs (part of the speech): Economic stability in Europe can also be reinforced through a gradual enlargement of the euro area, for which I shall work on the basis of the existing and well-known rules and equal treatment.

SOUNDBITE (English), Olli REHN, Commissioner-designate for Economic and Monetary Affairs, (part of the speech): We need increased investment and intensified innovation. We need innovative financial instruments both from public and private sources of finance.

SOUNDBITE (English), Olli REHN, Commissioner-designate for Economic and Monetary Affairs: We must use the Treaty to reform the EURO Area, coordination and surveillance, inserting policy guidelines, deepening preventive surveillance, for instance the Commission will have a right to issue warnings and recommendations. 2nd likewise we must capitalise on the Treaty in order to broaden the surveillance, for instance to macro economic imbalances and in that context the macro prudential surveillance of the European systematic risk board will be very important. And in this context we can use these new instruments in order to give spin and rigour to the objective of the EU2020 strategy. Which needs to be better monitored and it needs to be based on partnership and genuine ownership of our MS.

SOUNDBITE (English), Olli REHN, Commissioner-designate for Economic and Monetary Affairs: We should not underestimate to work towards a unified representation of the Euro area and EURO zone in international institutions and fora such as G20 or International Monetary Fund. Currently we punch below our weight by standing united we can lead not only follow.

SOUNDBITE (English), Olli REHN, Commissioner-designate for Economic and Monetary Affairs: I want to see that the EU highest quality of transparency and code of conduct in relation to lobbyists in the world and I trust that all the European institution will join this kind of conduct in the future. I'm not so worried about myself and you should not be worried of me concerning lobbyists, I prefer a diner at home with my family than having a diner with lobbyists in a "Maison de cygne" - No offence!

SOUNDBITE (English), Olli REHN, Commissioner-designate for Economic and Monetary Affairs: (question by Mr CANFIN) In my view the exchange rate of the Euro in relation to the Dollar and plus the Chinese currency is a potential risk for European recovery and therefore we have to discuss with the Chinese in the bi-lateral and multilateral context.