The EU Commissioner for Financial Stability, Financial Services & Capital Markets, Mairead Mc Guinness, said she would hit the ground running in an area which is vital for Ireland but also vital for the entire European Union.
Speaking on RTÉ's Six One, Ms McGuiness said that this concerns financial stability, particularly with the pandemic and trying to make capital flow to areas where it is needed.
She said that today people who have money on deposit are getting negative interest rates and there is a desire to see this money flowing into SMEs and other enterprises to aid the recoveries.
Commissioner McGuinness said world has moved on because of pandemic and the EU is going to borrow a significant amount of money to help the recovery across member states.
She said this money has to be repaid and the question of levying own resources is being considered.
The Commissioner said that she had outlined at hearing last week, she is fully in tune with the commission, as a collage and what it is trying to achieve.
She said that as a European Commissioner she is looking at the European agenda and working for all of Europe.
She said that many states who might have had different on issues such as a consolidated corporarte tax base are now looking at them in a different way.
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Mairead McGuinness's road to the Commissioner's office
Earlier, the European Parliament approved the appointment of Mairead McGuinness as EU Commissioner.
In a secret ballot, MEPs voted by 583 in favour and 75 against.
Ms McGuinness takes over the Financial Services, Financial Stability and Capital Markets Union portfolio.
Financial services is a powerful portfolio and is highly relevant to the ongoing Brexit negotiations.
The EU will have to decide what access the City of London will have to the single market in financial services.
Following her nomination to the post, Taoiseach Micheal Martin said he had "no doubt whatsoever that [Ms McGuinness] will serve with distinction and will play a key role in the work of the Commission."
