Ferreira was a Member of the European Parliament from the 2004 European election until her resignation in 2016. Throughout her time in parliament, she served as a member of the Committee on Economic and Monetary Affairs. In this capacity, she drafted the committee's own-initiative report on closer coordination of economic policies, which calls for the European Central Bank (ECB) to be granted powers to monitor “financial stability in the euro-area” and to be involved “in EU-wide macroprudential supervision of systematically important financial institutions.”[3] She was also in charge of the parliament's report on the Macroeconomic Imbalance Procedure in 2011[4] and led the parliament's work on the Single Resolution Mechanism (SRM) in 2013.[5]
From 2004 to 2014, Ferreira was a member of the parliament's delegation to the ACP–EU Joint Parliamentary Assembly. In 2015, she joined the Special Committee on Tax Rulings and Other Measures Similar in Nature or Effect.
In 2012, Ferreira was part of the Socialists and Democrats (S&D) expert “alternative troika” sent to Greece to assess what measures can be taken to spur job growth.[6]
In June 2016, Elisa Ferreira resigned from the European Parliament after she was nominated by the Portuguese Government to join the board of directors of the Bank of Portugal.[10] She was replaced by Manuel dos Santos.
European Commissioner, 2019–present
On 27 August 2019 Prime-Minister António Costa announced that Ferreira had been proposed as the Portuguese commissioner in Ursula von der Leyen's European Commission, to take office on 1 November 2019,[11] taking the portfolio of Cohesion and Reforms.[12] She became the first Portuguese woman to be put forward as commissioner.[13]
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