NEW European Commission President Jean-Claude Juncker has unexpectedly handed supervision of EU financial services to Britain.
Mr Juncker, whose appointment to head the European Union's executive was strongly opposed by Prime Minister David Cameron, said Jonathan Hill would become the European Union's first dedicated financial services commissioner, giving him huge influence over the City of London and rivals Paris and Frankfurt.
Observers had expected Lord Hill, a public relations consultant and ex-chief of staff to former UK prime minister John Major, to have a junior role in energy.
Mr Cameron's spokesman said the appointment of Lord Hill, who was leader of the House of Lords, would ensure the voice of EU members from outside the euro zone would be fully represented in the bloc's wider single market.
"Financial services is a very significant sector here in the UK ... so we welcome that and look forward to working with Lord Hill and the entire Commission-designate," the spokesman said.
London is the 28-country bloc's biggest financial centre. But as one of the most Eurosceptic countries, Britain has become more antagonistic towards Brussels as supervision of banks and markets shifts increasingly to the EU level.
Mr Cameron has promised a referendum on membership of the EU in 2017 if he is still prime minister after national polls next year. "It's a very good appointment for the City," said Chris Cummings, chief executive of TheCityUK, which promotes Britain as a financial centre.
"In the context of British membership of the EU, it demonstrates that other member states are keen to listen to the reform perspective Britain has put forward," Mr Cummings said.
Mr Cameron has urged the EU to push harder for economic growth as the euro zone, Britain's biggest export market, stutters.
Sweden's Cecilia Malmstrom will have the task of negotiating the world's biggest trade agreement between the United States and Europe. Miguel Arias Caneta of Spain will be energy and climate change commissioner, though former Slovenian premier Alenka Bratusek will have the more senior post of vice-president overseeing the development of an energy union.
Elzbieta Bienkowska of Poland is commissioner for the internal market, industry, entrepreneurship and small business.
Mr Juncker said: "In these unprecedented times, Europe's citizens expect us to deliver. After years of economic hardship and often painful reforms, Europeans expect a performing economy, sustainable jobs, more social protection, safer borders, energy security and digital opportunities. Today I am presenting the team that will put Europe back on the path to jobs and growth."
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