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BRUSSELS, June 25 (Xinhua) -- Britain's European commissioner Jonathan Hill, responsible for Financial Stability, Financial Services and the Capital Markets Union, announced Saturday to resign from his post, said a press release issued by the European Commission.
"Like many people here and in the UK, I am obviously very disappointed about the result of the referendum," said Hill in a statement, noting that he "do not believe it is right that I should carry on as the British Commissioner as though nothing had happened."
"I wanted it to end differently and had hoped that Britain would want to play a role in arguing for an outward-looking, flexible, competitive, free trade Europe. But the British people took a different decision, and that is the way that democracy works," he said.
"I came to Brussels as someone who had campaigned against Britain joining the euro and who was sceptical about Europe. I will leave it certain that, despite its frustrations, our membership was good for our place in the world and good for our economy. But what is done cannot be undone and now we have to get on with making our new relationship with Europe work as well as possible," he said.
European Commission President Jean-Claude Juncker said he had accepted Hill's decision with regret.
"Lord Hill is an experienced politician for whom I have great respect and I want to sincerely thank him for his loyal and professional work as a member of my team," said Juncker.
"The work of the European Union must go on. After having spoken with Martin Schulz, President of the European Parliament, I have asked Valdis Dombrovskis, Vice-President responsible for the Euro and Social Dialogue, to take over the portfolio for Financial Stability, Financial Services and the Capital Markets Union," Juncker noted.
Hill's resignation will take effect on July 15, while President Juncker's decision to transfer his portfolio will take effect on July 16. This will allow for an orderly transition of this important portfolio.
Under the EU treaties, there should be one commissioner per member state in the Commission. The Commission said Juncker stands ready to discuss swiftly with the British prime minister potential names for a Commissioner of UK nationality as well as the allocation of a possible portfolio. Enditem
