Katainen resigned as the chairman of Finland's National Coalition Party and as the Finnish Prime Minister in June 2014 and was elected as European Commissioner on 16 July 2014. He was later confirmed as Vice-President-designate for jobs, growth, investment and competitiveness in the European Commission. Katainen's new responsibilities as Vice-President are to formulate recommendations to ensure that Member States' economies are on a path of sustainable of growth and job creation, to supervise the Union's common currency (the euro) and to produce the Commission's regular economic forecasts and economic indicators.