Who is Ollie Rehn

censuspro

Is Ollie Rehn Finland's version of Charlie McCreevy? Does anyone know what his background is and why he is such an expert on Ireland's economy. I don't understand why Irish media and government seem to think that everything he says is gospel.

wellsir

from finland, got them out of a similar mess in early nineties, now head of something or other in Europe and general all round nice guy.

prinz

Degree in Economics, International Relations and Journalism followed by a
Masters in Political Science followed by a PhD on a topic in Economics.

Has worked as special advisor to a number of Finnish P.M.'s on economic policy, including the early 90's when the was a bit of a Scandanavian slump IIRC. Has been an Enterprise Commissioner in Europe, and currently Commissioner on Economic and Financial Affairs.

I'd say he knows a thing or two.

leeroybrown

As the 'European Commissioner for Economic and Financial Affairs' he currently holds one of the most influential positions in the EU and the one that has most bearing on our affairs right now.

censuspro

prinz wrote: »

Degree in Economics, International Relations and Journalism followed by a
Masters in Political Science followed by a PhD on a topic in Economics.

Has worked as special advisor to a number of Finnish P.M.'s on economic policy, including the early 90's when the was a bit of a Scandanavian slump IIRC. Has been an Enterprise Commissioner in Europe, and currently Commissioner on Economic and Financial Affairs.

I'd say he knows a thing or two.

Does that qualify him to know what's best for Ireland and it's citizens?

I don't understand why our government and media seem to hang on his every word?

Augmerson

wellsir wrote: »

from finland, got them out of a similar mess in early nineties.

Did Finland get an 80 billion euro bailout too?

CJhaughey

wellsir wrote: »

from finland, got them out of a similar mess in early nineties

When they had their own currency that they could devalue.

prinz

censuspro wrote: »

Does that qualify him to know what's best for Ireland and it's citizens?

Yeah, pretty much. Seems to have as much of a clue as anyone we put in a place of authority tbh. Being Commissioner and all that puts him in a unique position. If he was still a Finnish advisor he wouldn't be getting the same airtime... and as has been said he has had some experience in the whole economic crisis area.

censuspro wrote: »

I don't understand why our government and media seem to hang on his every word?

Does this really have anything to do with Olli Rehn? He is the Commissioner responsible.

Scofflaw

CJhaughey wrote: »

When they had their own currency that they could devalue.

If they had devalued, that might be relevant. As they didn't, it isn't.

cordially,
Scofflaw

censuspro

prinz wrote: »

Does this really have anything to do with Olli Rehn? He is the Commissioner responsible.

That's why I asked the question. Why is our media and government ministers hanging on his every word.

According to John Gormley the EC demanded a cut in minimum wage. If that's the case then he/the position he holds appears to be having a direct input into our economic policy.

adomino

joe higgins on ollie rehn

http://www.youtube.com/watch?v=5Eph-xTTACQ

View

censuspro wrote: »

That's why I asked the question. Why is our media and government ministers hanging on his every word.

There are two main reasons given we have a two fold problem:

All EU member states are supposed to meet the Maastricht criteria. Given the financial crisis, 26 out of the 27 are in breech of them. When that happens, the EC starts what is called the "Excessive Deficit Procedure" to get the relevant states back on track within a mutually agreed timescale.

The timescale agreed by our government is to be back on track by 2014. The measures to acheive that are run by the EC who are - in effect - acting as the referee to make sure that the various states are making proper efforts to comply with their EU Treaty obligations.

A negative report from the referee, could result in the state being asked to place a large deposit (up to 1% of GDP with (I think) the EC). That could - after an additional time period - be converted to a fine (i.e. the deposit is forfeit).

It is Ollie's job to be the referee. He is probably having a real hard time trying to understand the government's budget math and the government is probably worried he might start saying this out loud.

Secondly, there is the small matter of the banks. Under EU law, the government is supposed to make commerical investments - not spend it on subsidies (unless those have been approved well in advance). It is hard to see how repeatedly pumping what seems to be vast sums of money into the banks can be classified as a commerical investment, yet stopping the money flow - in effect - kills most of the banking sector in Ireland. Given the role of banking in society, the latter is a formidable action to do.

Ollie's job may be to - as happens in all those hospital dramas - pull the emotionally involved member of staff (i.e. the government) aside and say "The patient is dead. You need to give up and go home" ...

censuspro wrote: »

According to John Gormley the EC demanded a cut in minimum wage. If that's the case then he/the position he holds appears to be having a direct input into our economic policy.

The EC will demand that we adhere to our commitments under the EU Treaties and laws. It doesn't give a fiddlers how we do so provided we don't breech EU rules in the process.

It is up to the government to figure out how to do so. If it choose to cut the minimum wage rather than - let's say, raise income tax on very high earners - that is its prerogative.