In September 2014 he was named as European Commissioner for Economic and Financial Affairs, Taxation and Customs by President-designate of the European Commission Jean-Claude Juncker.
Pada September 2014, ia menjadi Komisioner Eropa untuk Ekonomi dan Urusan Keuangan, Perpajakan dan Pabean oleh Presiden terpilih Komisi Eropa Jean-Claude Juncker.