Antitrust Law Daily Wrap Up, ANTITRUST NEWS: Vestager takes over as new EC Competition Commissioner, (Nov 4, 2014)
By Peter Reap, J.D., LL.M.
Margrethe Vestager took over as the new European Commission (EC) Competition Commissioner on November 1, 2014. Vestager, Denmark's former economy minister, was announced by European Union President-elect Jean-Claude Juncker on September 10 and in his Mission Letter, Juncker set out what he expects from her as a Member of the Commission as well as specific goals for which she will be responsible for reaching during their mandate.
Juncker requested that Vestager focus on the following priorities during her tenure:
Mobilizing competition policy tools and market expertise so that they contribute, as appropriate, to the Commission’s 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. In this context, it will be important to keep developing an economic as well as a legal approach to the assessment of competition issues and to further develop market monitoring in support of the broader activities of the Commission.
Pursuing an effective enforcement of competition rules in the areas of antitrust and cartels, mergers and State aid, maintaining competition instruments aligned with market developments, as well as promoting a competition culture in the EU and world-wide.
Maintaining and strengthening the Commission’s reputation world-wide and promoting international cooperation in this area.
In her Introductory Statement, then Commissioner-Designate Vestager stated: “Competition policy has a key role to play in support of the President-elect's call for a boost to jobs, growth and investment to address the global challenges for businesses, big and small alike. My overarching goal will be to tackle key obstacles to growth and innovation that create jobs.”
She added that “In anti-trust, we need to focus on business practices in the key sectors. I am in favour of strong competition – I will not constrain large companies from competing on the merits. But I will not hesitate to challenge the behaviour of major players unduly squeezing out smaller competitors. We need to fight against cartels that penalise consumers in our Single Market. We need to ensure that mergers do not worsen the competitive structure of key markets within the EU.”
Vestager affirmed that she will do her very best to ensure that the enforcement of EU competition law is even-handed and neutral. Vestager’s answers to the European Parliament’s Questionnaire, are here.
News: Antitrust