Statement on the Decision of Commissioner Lord Hill to resign from the European Commission and on the transfer of the Financial Services portfolio to Vice-President Valdis Dombrovskis / Prime Minister nominates Sir Julian King as European Commissioner

On 25 June 2016, European Commissioner Lord Jonathan Hill, responsible for Financial Stability, Financial Services and the Capital Markets Union, informed European Commission President Jean-Claude Juncker of his decision to resign from his post as European Commissioner as a consequence of the referendum results on EU membership in the United Kingdom.

The Financial Services portfolio was transferred to Vice-President of the European Commission Valdis Dombrovskis. A hearing at the European Parliament's economic and monetary affairs committee took place on 7 July, which considered he was in a position to assume the portfolio.

The UK would need to appoint a replacement European Commissioner to cover for the period between the resignation of Commissioner Hill and the UK leaving the EU.

UK Prime Minister David Cameron nominated Sir Julian King, Ambassador to France, as the next UK Commissioner in the European Commission on the 8 July 2016. He was interviewed for the post and accepted by European Commission President Jean-Claude Juncker on the 11 July 2016.

EurActiv, 25.06.16: UK’s EU Commissioner quits after Brexit vote http://www.euractiv.com/section/uk-europe/news/uks-eu-commissioner-quits-after-brexit-vote/

The Wall Street Journal, 25.06.16: U.K. Commissioner to EU Jonathan Hill to Step Down http://www.wsj.com/articles/u-k-commissioner-to-eu-jonathan-hill-to-step-down-1466856849

ESO: Background information: The EU Referendum, 23 June 2016. The United Kingdom and the European Union. The results. Reaction in the EU Institutions and other EU Member States http://www.europeansources.info/record/the-eu-referendum-23-june-2016-the-united-kingdom-and-the-european-union-the-results-reaction-in-the-eu-institutions-and-other-eu-member-states/

Politico, 26.06.16: Jonathan Hill: Brexit exposes City to eurozone priorities http://www.politico.eu/article/former-european-commissioner-jonathan-hill-brexit-exposes-city-to-eurozone-priorities/

Euronews, 25.06.16: Britain’s European Commissioner Jonathan Hill resigns after Brexit vote http://www.euronews.com/2016/06/25/britain-s-european-commissioner-jonathan-hill-resigns-after-brexit-vote/

Deutsche Welle, 26.06.16: After Brexit, Hill becomes first Brit to quit Brussels http://dw.com/p/1JDzu

EUObserver, 25.06.16: UK's EU commissioner resigns https://euobserver.com/institutional/134026

Politico, 28.06.16: The UK’s Commission impossible http://www.politico.eu/article/the-uks-commission-impossible/

EurActiv, 06.07.16: Cameron faces uphill battle to place new EU Commissioner http://www.euractiv.com/section/uk-europe/news/cameron-faces-uphill-battle-to-place-new-eu-commissioner/

Politico, 06.07.16: New EU finance chief commits to finishing Jonathan Hill’s work http://www.politico.eu/article/new-eu-finance-chief-commits-to-finishing-jonathan-hills-work/

Politico, 06.07.16: David Cameron wants environment job for next UK commissioner http://www.politico.eu/article/cameron-wants-environment-job-for-next-uk-commissioner/

European Parliament: Press Release, 07.07.16: ECON Committee is satisfied that Vice-President Dombrovskis is in a position to assume the Financial Stability, Financial Services and Capital Markets Union http://www.europarl.europa.eu/news/en/news-room/20160705IPR35397/

Politico, 08.07.16: Julian King nominated as UK commissioner, faces Juncker grilling http://www.politico.eu/article/julian-king-nominated-as-uk-commissioner-faces-juncker-grilling/

UK: GOV.UK: Prime Minister's Office, 08.07.16: Prime Minister nominates Sir Julian King as European Commissioner https://www.gov.uk/government/news/prime-minister-nominates-sir-julian-king-as-european-commissioner

Politico, 11.07.16: Commission accepts Julian King as new British commissioner http://www.politico.eu/article/commission-accepts-julian-king-as-new-british-commissioner/

EurActiv, 13.07.17: UK’s King could be a Commissioner ‘without portfolio’ http://www.euractiv.com/section/uk-europe/news/uks-julian-king-could-be-a-commissioner-without-portfolio/

EurActiv, 14.07.16: UK Commissioner: After Brexit, resigning was the right thing to do http://www.euractiv.com/section/euro-finance/news/uk-commissioner-after-brexit-resigning-was-the-right-thing-to-do/

Politico, 27.07.16: Commissioners asked to give up power to Julian King http://www.politico.eu/article/commissioners-asked-to-give-up-power-to-julian-king/

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