Dombrovskis replaces Hill in leading work on Capital Markets Union

European Commission
The European Commission

Jonathan Hill, the European commissioner responsible for banking and finance, resigned on June 27, after the UK voted in favour of leaving the European Union.

"What is done cannot be undone," Lord Hill reportedly said. He was replaced by the former Latvian prime minister Valdis Dombrovskis, the commissioner for the single currency and "social dialogue".

Hill was responsible for establishing a Capital Markets Union (CMU) by 2019. This includes markets both within and without the eurozone. His

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