Italy's former centre-left Premier Paolo Gentiloni was on Tuesday assigned the economics portfolio in European Union Commission President-elect Ursula von der Leyen's 27-strong team.

"I will try and bring honour to Italy - whose government put me forward - working closely with the European Parliament and EU institutions in the interests of all European citizens," Gentiloni said after von der Leyen's announcement.

The Economic and Financial Affairs Commissioner role is "key at a crucial moment for the European economy," Gentiloni said thanking von der Leyen for giving him the job.

"I will seek for and foremost to contribute to re-launching growth and social and environmental sustainability," he added.

Von der Leyen of Germany's 'college' of commissioners - 13 women and 14 men - will take office on November 1 assuming they secure approval from the European Parliament.

The European Parliament only narrowly only narrowly backed Von der Leyen's appointment in July as the first female head of the EU executive.

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