| Author (Corporate) | European Commission |
|---|---|
| Series Title | COM |
| Series Details | (2015) 247 final (4.6.15) |
| Publication Date | 04/06/2015 |
| Content Type | Policy-making, Report |
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2014 marked a new start for Europe. Following the European elections, the European Parliament gave its green light to the new European Commission on the basis of the priorities outlined in President Juncker’s Political Guidelines. The mission letter addressed to Margrethe Vestager, Commissioner for Competition, states that competition policy would “contribute, as appropriate, to our jobs and growth agenda, including in areas such as the digital single market, energy policy, financial services, industrial policy and the fight against tax evasion”. Indeed, competition policy encompassed all these areas in 2014 and provided a sound foundation to build upon in supporting the overall policymaking of the European Commission. Competition policy can help building a genuine Digital Single Market. In the knowledge-based sectors, vibrant competition is essential to stimulate innovation and spread the benefits of technological development among Europe’s citizens. In addition, effective enforcement of antitrust and merger policy makes it easier for small businesses to thrive and gain access to markets in sectors dominated by network effects. Finally, the application of State aid rules to the broadband sector helps to provide good coverage at affordable prices. In the energy sector, competition policy ensures that companies do not maintain or re-erect barriers to protect themselves from competition, hampering the establishment of a European Energy Union. Competition enforcement also helps to ensure fair and non-discriminatory access to energy infrastructure, removes obstacles to market integration, and fosters competition between and within Member States. Moreover, the revised State aid rules on energy and environment assist Member States to better target their support for example to renewable energy sources, infrastructure investments, generation capacity or relief of electro-intensive users from the financing of renewables support. The Commission has been particularly vigilant in financial services with the main goal of bringing a stable and fairer financial sector back to its core function of lending to the real economy. The creation of the Banking Union is increasing the confidence of European citizens and markets in the European banking system. Enforcement actions coupled with regulatory efforts also focused on tackling anticompetitive practices in financial derivatives and in the payments sector. Industrial policy is centred on a competitive and open internal market as a springboard for the global success of EU businesses. The new State aid framework is designed to channel government support where it matters most for growth and competitiveness. In addition, in 2014 the Commission investigated and punished several cartels concerning input and intermediate products. Antitrust enforcement reduces and – thanks to its deterrent effect – prevents the harm that cartels cause along the supply chain to the detriment of EU’s international competitiveness. The new Commission will continue to focus on the fight against tax avoidance and tax evasion. In 2014, the Commission has tightened its control of fiscal State aid, by using EU competition tools to make sure that EU countries do not help selected multinational companies avoid paying their fair share of taxes. One major achievement in the field competition policy in 2014 was the adoption of the Directive on antitrust damages actions. Presented by the Commission in June 2013, the Directive was adopted and entered into force in 2014. Member States now have until 27 December 2016 to implement it. Thanks to the Directive, it will be easier for European citizens and companies to receive effective compensation for the harm caused by antitrust violations, such as cartels and abuses of dominant market positions. The Directive is the first legislative initiative adopted via the ordinary legislative procedure in the area of competition policy, and it sets a milestone for the competition dialogue between the Commission and the other EU institutions. |
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| Source Link | http://eur-lex.europa.eu/legal-content/EN/TXT/?uri=COM:2015:247:FIN |
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| Subject Categories | Internal Markets |
| Countries / Regions | Europe |
