In a press release on 2nd July 2013, President Barroso, in agreement with Vice-President Rehn, selected Graham Bishop to be a member of the European Commission's Expert Group looking into the merits and risks, legal requirements and financial consequences of initiatives for the joint issuance of debt in the form of a redemption fund and eurobills. The Expert Group's wide-ranging Mandate is here. Graham has already proposed and crafted the ‘Temporary Eurobill Fund’ (link) and held detailed conversations in Berlin, Brussels, Frankfurt, London and Paris.
Responding to the news, Graham Bishop commented "I am honoured to be asked to serve in such a group. As a national of a non-euro area state, it is particularly gratifying to be involved. Any tightening of the financial bonds between euro area governments will be a welcome step along the road to a Genuine Economic and Monetary Union (GEMU)."
Graham is no stranger to the European Commission's groups, having been on the Maas Committee in 1994/5 (preparing the changeover to the single currency); a member of the Financial Services Strategy Group in 1998/9 (creating the Financial Services Action Plan); and a member of the Giovannini Group.
The European Parliament also nominated him as one of its two members of the first Inter-Institutional Monitoring Group and he is a Board member of the Kangaroo Group. He has been a Special Advisor to the House of Commons Treasury Select Committee and has given evidence twice this year in the House of Lords European Committee's update inquiry on the euro area. He has worked in the financial markets in several roles since 1972 and is a Liveryman of the City of London.
On 5 December 2013, Graham spoke on the debt redemption fund and eurobills at the EESC - link.
Graham Bishop is an Independent Consultant appraising the political, financial, economic and budgetary ramifications of EU integration.