Monti hits back at US

Date: 18/10/01

By Peter Chapman

MARIO Monti has attacked his US counterparts over their criticism of the EU's handling of the GE/Honeywell merger case, accusing them of "a gross misrepresentation" of EU competition policy.

The competition commissioner was responding to comments by Justice Department Deputy Assistant Attorney General William Kolasky over the merger, which was blocked by the EU despite being approved by Washington. Speaking at the Organisation for Economic Cooperation and Development in Paris, the American said an economic theory used by the Commission in the GE case was "antithetical to the goals of sound anti-trust enforcement".

But Monti retorted: "If serious progress is to be made, I do not believe that it is helpful that one or the other side launches a public debate or assessment." Monti, who also came under attack from Kolasky's boss, Charles James earlier this week said the criticisms implied that the EU was trying to protect business from global competition. "I flatly reject this as a gross misrepresentation of 40 years of competition policy," he said.

Mario Monti has attacked his US counterparts over their criticism of the EU's handling of the GE/Honeywell merger case, accusing them of 'a gross misrepresentation' of EU competition policy.