A Good Start

A Good Start


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European financial markets are looking forward with great interest to September 1 when the new DG Internal Market Alexander Schaub will take over the job from his predecessor John Mogg who for a while will retain the position of Haute Class Advisor with the same DG. (see Kassandra April 19, 2002). Mr. Alexander Schaub has an excellent record as Director General in Competition, which no doubt is the most sensitive DG of the entire European Commission. It is worth mentioning that the appointment of the new DG in Internal Market has been welcomed with great relief by continental Europe financiers who were feeling that the past structure of the DG had a permanent Anglo-Saxon approach for crucial issues. Taking into consideration that times both for Europe and the financial markets are hard, the performance and mostly the philosophy of Mr. Schaub will be one of the many elements that will contribute to the future of Europe. It remains to be seen what changes the new DG will schedule as far as national composition of key functions in Internal Market is concerned. His appointment and the replacement of one Director, sound a good start. (653)

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