12:06:08 Read-out of the College meeting by Valdis DOMBROVSKIS, Vice-President of the EC in charge of the Euro and Social Dialogue, also in charge of Financial Stability, Financial Services and Capital Markets Union
12:13:47 Read-out of the College meeting by Pierre MOSCOVICI, Member of the EC in charge of Economic and Financial Affairs, Taxation and Customs
12:55:35 Recorded cutaways
12:56:24 Exterior views of the European Commission:
The European Commission is the executive body of the EU and runs its day-to-day business. It is made up of the College of Commissioners, 27 European Commissioners, one for each member state, who are each responsible for one or several policy areas. In addition, the 'Commission' also refers to the entire administrative body that supports the Commissioners, consisting of the Directorates-General and the Services.
The European Commission is the sole EU body capable of proposing new legislation. The Commission also performs an oversight function, monitoring whether European legislation is properly implemented in the member states. In the event of non-compliance, the Commission can coerce a member state to comply by starting a legal procedure at the European Court of Justice.