Opinion: Sharpen Europe’s competition policy

Commentary feature. The European Round Table of Industrialists has identified four areas of EU competition policy in which reforms would benefit consumers and business.

ERT believes that the formation of a single European market leads to growth and innovation. In particular the benefits to consumers should not be underestimated. As market conditions continuously evolve, it is important that EU Competition Policy is also able to evolve and respond to the challenges presented by the global megatrends. Globalisation, technological changes, as well as the emergence of new economic powers, are some of the challenges that business and society face in the European Union. In addition, some of the successes achieved by EU Competition Policy in ensuring the good functioning of markets could be jeopardised in times of economic crisis.

ERT has commissioned a report, conducted by Professor Lars-Hendrik Röller, the former chief economist for DG Competition, with the overall objective of identifying areas where reform may be necessary to ensure that the EU Competition Framework can work effectively in the future. Following a systematic examination of EU Competition Policy, including the major reforms and initiatives undertaken in the last few years in the areas of merger control, antitrust and state aid, this report identifies four areas where we agree there is a need for reform for the future benefit of consumers and business.

ERT: Competition Policy Report: 'Challenges in EU Competition Policy', March 2010 http://www.ert.be/DOC/09119.pdf

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