Financial services role goes to Albuquerque ― but she brings baggage – POLITICO

BRUSSELS ― Maria Luís Albuquerque, who has been selected to oversee financial services in the new European Commission, has a mixed reputation at home.

The Portuguese lawmaker was a surprise victor in the brawl for the role, seeing off competition from finance ministers from Ireland and Austria.

For Portuguese citizens, Albuquerque is synonymous with harsh economic austerity. As the country's finance minister between 2013 and 2015, the economist oversaw the dramatic public spending cuts that were a condition of the bailout offered by the so-called Troika of the country's international creditors in the wake of the debt crisis.

During her tenure, Albuquerque gained a reputation for being a serious, sometimes severe figure. She earned the respect of many in Brussels by endeavoring to pay off loans early, cementing Portugal's reputation as the "good pupil" determined to make sacrifices to keep its promises with the European Union and global financial institutions.