“Working people may have concerns with a Fine Gaeler in charge of EU banking policy” – Chris MacManus MEP

Sinn Féin MEP extends a cautious welcome to Mairead McGuinness appointment

Sinn Féin MEP Chris MacManus has congratulated Mairead McGuinness on her selection as Commissioner-Designate. MacManus, who is a member of the Economic and Monetary Affairs Committee which will vet McGuinness through a hearing, said however that the appointment of a Fine Gael politician to a position in charge of Europe’s banking and insurance policy could cause grave concerns for working people.

Mac Manus said:

“I wish to congratulate Mairead McGuinness on her selection as Commissioner-Designate. The portfolio of Financial Services and Financial Stability covers, among other things, banking and insurance policy. These are two areas where Fine Gael has in the past failed to stand up to industry lobbying and have failed to protect consumers and workers.” 

“Irish consumers pay the highest mortgages in Europe and incredibly high insurance costs. MEP McGuinness’s party in power has defended the banks paying no tax, has supported them in selling off family home loans to vulture funds and has submitted to the insurance industry lobby at the expense of consumers.”

MacManus stressed the importance of representing people. “Ms McGuinness must prove to the members of the Economic and Monetary Affairs, including myself, that she will not adhere by default to her political party’s position of being consistently supportive of the banks and insurers. She must remember her role is to represent the citizens of Ireland and across the EU, not the banks or insurers.”

The Sligo MEP concluded “During her years as an MEP, she has not chosen to champion workers’ rights. However, I hope to get her reassurances at Committee that she will act differently to Fine Gael at home in Ireland on these issues.” ENDS