Antitrust in the European Union, the strange state of the American economy and the challenge for the European Investment Bank between Vestager and Franco

From our correspondent
BRUSSELS – Chances are Daniel Francoformer Minister of Economy in the Draghi government, former Accountant General of the State and Director General of the Bank of Italy, to be appointed President of the Council of Ministers. European Investment Bank (bye). German President Werner Heuer’s term ends at the end of December, however Already at the informal Ecofin in September in Santiago de Compostela, EU finance ministers can decide Then formalize it at Ecofin in October. In addition to Franco, there is also the Vice-President of the European Commission and the owner of the European Union Antimonopoly Margaret Vestager and two vice-presidents of the European Investment Bank, Sweden Thomas Strauss And the poles Teresa Zerwinska. Vestager is a name with weight but one that could play against the appointment of American Fiona Scott Morton as chief economist at DG Competition. The Yale University professor has decided to quit his job after the heated controversy in recent days.

Vestager announced Wednesday morning that it had received a message in it Fiona Scott Morton said she decided not to take on the role of chief competition economist: In view of the political controversy that has arisen due to the selection of a non-European person for this position, and the importance for public administration to have the full support of the European Union in its work – wrote the Yale University economist – I have decided that the best course of action is to retire and not take up the position of chief economist. Vestager accepted her decision with regret and with full respect for her integrity. It was French President Emmanuel Macron who publicly criticized the appointment on Tuesday. But doubts about his nationality have also been raised before European Parliament. On Tuesday, Vestager defended his choice before the EU Parliament’s Economic Affairs Committee, explaining that it was good to get to the European Commission with the experience of Scott Morton, who knows our competition system perfectly. For Vestager, it is doubtful to think that nationality automatically implies a bias in favor of corporations in the country of which one is a citizen.

All parliamentary blocs had raised clear opposition to the appointment, and some deputies demanded their withdrawal due to the risks of conflict of interest, bearing in mind that Scott Marton has advisory relationships with important companies (Apple, Microsoft, Amazon, Sanofi, Pfizer). ), but in fact she would not have dealt with those files specifically to avoid improprieties. Limited cases according to Vestager. Some EU commissioners also expressed doubts about the appointment: Josep Borrell (Spain), Thierry Breton (France), Elisa Ferreira (Portugal), Paolo Gentiloni (Italy) and Nicolas Schmidt (Luxembourg) sent a message to President Ursula von der Leyen– He says Politician – To ask her to reconsider the choice. Now it is no longer needed because the economist has retired.

It is a matter of understanding whether what happened could in some way damage the trust between Vestager and some member states. The European Investment Bank is the world’s largest multilateral bank, with a balance sheet of about €550 billion And it will play an increasing role not only in financing the green transition but also in the reconstruction of Ukraine. His much needed guide. Franco is an important candidacy who enjoys good press with Berlin. A technician of strict discipline, he corresponds with German Finance Minister Christian Lindner. However, many say this time the presidency should go to a woman and this plays against Franco. Vestager is a strong candidate but he represents Northern Europe. And after 12 years with a German president, the hypothesis of a representative from the South began to make headway. Franco could break North-North solidarity and now Vestager’s move could increase the number of Franco’s supporters.