France to get super-portfolio in new EU Commission – ING

Julien Manceaux, senior economist at ING, points out that Breton has made it through the first round of hearings in the European Parliament as the Socio-Democrats and the European Conservatives and Reformists joined the European People's Party and Renew in endorsing him.

Key Quotes

“This did not come without cost and some sacrifices had to be made. For example, the Commissioner in charge of “preserving the European way of life” was too close to the right for the Socialists and Democrats. Still, France has been able to secure significant influence over areas such as the single market, industrial policy, IT and defence.”

“The EU Commission plans to invest €2.7 billion in high-performance computing within the 2021-2027 framework programme.”

“We believe Breton is a good choice as he offers the right mix of political and business experience.”

“As CEO of Atos, he has integrated the IT activities of Germany’s Siemens Group, turning his company into one of the five biggest IT service players in the world. Atos is widely considered one of the most important Franco-German industrial collaborations since Airbus, with two headquarters, both in France and Germany. Breton left Atos and sold all his shares of the company before the hearings in Brussels in November.”

“During his three-hour hearing, Breton made clear that digital transformation and climate change would be high on his agenda, in line with Commission President Ursula von der Leyen’s priorities. He said that 5G, blockchain, Artificial Intelligence, cybersecurity, cloud and quantum technologies would enable the EU to be a ‘key industrial player’. He also defended ‘ambitious industrial policies’.”

“We believe that at a time when the EU is losing the race of the digital space, Breton is a strong asset to the European Commission.”