Competition Policy in the EU: Fifty Years on from the Treaty by Xavier Vives

By Xavier Vives

A quantity that takes inventory and appears forward at the improvement and implementation of pageant coverage within the ecu Union fifty years after the Treaty of Rome. pageant coverage has emerged as a key coverage within the european with festival performing because the motive force for monetary potency and the welfare of voters. Case legislation has been proven to regulate and stop anti-competitve habit, kingdom reduction regulate has consolidated and developed in the direction of a extra monetary technique, and the authority of the EC and the judicial evaluation of the court docket of the 1st example (CFI) and the eu court docket of Justice (ECJ) are firmly etsablished. The ebook offers an fiscal method of pageant coverage and displays the most components of curiosity, open matters and development within the sector. the amount examines the layout of pageant coverage associations, the evolution of the implementation of festival coverage and its convergence or divergence with US perform, restrictive practices, cartels, abuse of dominance, merger keep an eye on and kingdom aids. the quantity additionally analyses the interplay of pageant coverage and rules, and reviews its software to telecoms, banking and effort sectors. All chapters are written via leadfing experts combining theoretical with functional wisdom and discussing the underpinings of the appliance of legislation.

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Extra info for Competition Policy in the EU: Fifty Years on from the Treaty of Rome

Example text

The objective was to provide guidance to companies and the legal community alike as to which mergers may be challenged. The Guidelines explain the circumstances in which the Commission may identify competition concerns, but also provide clear quantitative indications 27 Philip Lowe as to when the Commission is unlikely to intervene—for example, when a merger results in market concentration levels below certain specified levels. They also set out the factors that may mitigate an initial concern that a merger is likely to harm competition and the conditions under which efficiency gains resulting from the merger will be taken into account.

It thereby reduced the compliance burden for companies, especially smaller companies, and at the same time allowed the Commission to concentrate on moreproblematic agreements. Focusing on more-significant distortions of competition must go hand in hand with the ability to impose effective sanctions. The Guidelines on the method of setting fines, adopted by the Commission first in 1998 in order to enhance transparency as to its fining policy, were revised in 2006 with a view to increasing the deterrent effect of fines.

The commonly held view that the disregard of the European Commission for competition distortion and trade affectation criteria reflects a paternalistic tendency must be qualified since the definition of distortion of competition depends on the ‘theory of harm’. Spector concludes his chapter with the provocative question of whether the present, more-refined economic approach will be the Trojan horse of paternalism. In principle, one could expect that a more ‘economics’ approach would provide more attention to the specifics of competition distortion and trade affectation but those seem no longer to be necessary conditions for a prohibition.

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