Margrethe Vestager, the long-time scourge of tech giants and rate-rigging banks, has stepped aside from her role as the European Union’s competition commissioner after her bid to lead the European Investment Bank became formal.
Under EU rules, the Dane has to take a temporary leave of absence that could be made permanent if she is confirmed as the new president of the bloc’s lending arm — a job scheduled to start on Jan. 1 following the departure of incumbent Werner Hoyer.
“I will take unpaid leave from the European Commission to focus on my candidacy,” Vestager said in a statement on X, the social network formerly known as Twitter.
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