Catherine Ashton was grilled by the European Parliament on her second day in office as EU supremo for foreign affairs. Photo by BGNES

The EU plans student-style exchanges for police and judges in a new blueprint to improve justice co-operation in the 27-nation bloc.

The European Union's appointment of Michel Barnier as bank regulation supremo has left City firms reeling, despite his attempts to calm fears over London's importance yesterday.

Europe explained: the Record Europe takes its weekly look at the key events and issues in the EU institutions.

Michel Barnier, the EU's new commissioner-designate in charge of regulating the internal market and financial services industry, said he wants to reconcile French citizens with free-market policies by putting them at the service of citizens and jobs. EurActiv France reports.

France will take charge of the key internal market post in the new 27-strong European Commission

European Commission President José Manuel Barroso unveiled the EU executive's new line-up on Friday (27 November), handing Finn Olli Rehn the key economic policy portfolio and giving Frenchman Michel Barnier a controversial role in overseeing regulation of the financial sector.

France gets the key internal market post in the new European Commission, whose composition has just been announced.

Herman Van Rompuy will join forces with European Commission to push for new tax raising powers for Brussels.