Free competition in EU single market
The traditional function of competition law has been the
stimulation of economic activity with a view to ensuring both an optimum allocation of resources and maximum consumer welfare. However, to confine the aims of competition policy to the achievement of these economic and consumer benefits would be an over-simplification. Competition law has other important objectives such as maintaining high levels of employment, protecting small firms against concentration of economic power or facilitating the restructuring of sectors in crisis. Competition policy is therefore, not only about the survival of the fittest but also about the protection of the weak and the pursuit of important social goals. In addition to these general objectives, different systems of competition law protect idiosyncratic aims. Community competition law is not an exception, but rather a striking illustration of this rule.
As the Commission has repeatedly emphasised, the competition provisions in the Treaty fulfil the additional function of contributing towards the achievement of the single market objective.
The EU has strict rules protecting free competition. Under these rules, certain practices are prohibited. If you infringe the EU's competition rules, you could end up being fined as much as 10% of your annual worldwide turnover. In some EU countries individual managers of offending firms may face serious penalties, including prison. EU competition rules apply directly in all EU countries - the courts in your country will uphold them. These rules apply not only to businesses but to all organisations engaged in economic activity (such as trade associations, industry groupings, etc).
European competition law today derives mostly from articles 101 to 109 of the Treaty on the Functioning of the European Union (TFEU), as well as a series of Regulations and Directives. Four main policy areas include:
1.Cartels, or control of collusion and other anti-competitive practices, under article 101 TFEU.
2.Market dominance, or preventing the abuse of firms' dominant market positions under article 102 TFEU.
3.Mergers, control of proposed mergers, acquisitions and joint ventures involving companies that have a certain, defined amount of turnover in the EU, according to the European Union merger law.[1]
4.State aid, control of direct and indirect aid given by Member States of the European Union to companies under TFEU article 107.
The objective is to prevent the distortion of competition in the internal market, to ensure that the market functions as effectively as possible, and hence promote the prosperity of consumers and the competitiveness of the European economy. The EU competition rules are applied to a competition restraint felt in the EU region, if the restraint may significantly affect the trade between the Member States. This so-called trade criterion may also be fulfilled in cases where all the parties involved come from a single Member State.
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Conclusion
The global context in which the single market now operates has fundamentally changed, moving away from economies of scale and mass production towards a knowledge and service economy based on product differentiation and global value chains.
The prospect of trade diversion as well as damage to trading relationships has forced member states to evaluate prospects of alternative, competing legal, financial, regulatory and tax arrangements in the todays environment. Brexit-induced corporate reorganizations have pushed remaining member states to think hard about the differences between a single market in goods and services versus cross-border trade between distinct jurisdictions.
Brexit as well as Corona crisis may likely change the balance of regulatory debates in Europe. So our goal is catch wind of change and not forget principles of European single market
List of used sources:
1.Article «Completing the Single Market»(2016) Michelle Egan // published https://www.researchgate.net/
2.Article Egan, M. (2015). «Single markets: Economic integration in Europe and the United States» // Oxford: Oxford University Press.
3.Article Erixson, F., & Georgieva, R. (2016). «What is wrong with the single market?» (Working Paper, No. 1). Belgium: European Centre for International Political Economy. Retrieved from https://ecipe.org/wpcontent/uploads/2016/02/5Freedoms-012016 paper_fixed_v2.pdf
4.Barnard, C. (2017). EU internal market. In F. Fabbrini (Ed.) The law and politics of Brexit (pp. 201–220). Oxford: Oxford University Press.
5. D Chalmers et al, European Union Law (1st edn 2006) 662 // https://www.research.gate.net/
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6. C Barnard, The Substantive Law of the EU: The Four Freedoms (4th edn 2013)// https://www.research.gate.net/
[1] D Chalmers et al, European Union Law (1st edn 2006) 662 // https://www.researchgate.net/
[2] Article «Completing the Single Market»(2016) Michelle Egan // published https://www.researchgate.net/
[3] Article Egan, M. (2015). «Single markets: Economic integration in Europe and the United States» // Oxford: Oxford University Press.
[4] Barnard, C. (2017). EU internal market. In F. Fabbrini (Ed.) The law and politics of Brexit (pp. 201–220). Oxford: Oxford University Press.
[5][5] C Barnard, The Substantive Law of the EU: The Four Freedoms (4th edn 2013)// https://www.research.gate.net/
[6] C Barnard, The Substantive Law of the EU: The Four Freedoms (4th edn 2013)// https://www.research.gate.net/
[7] C Barnard, The Substantive Law of the EU: The Four Freedoms (4th edn 2013)// https://www.research.gate.net/
[8] Article Erixson, F., & Georgieva, R. (2016). «What is wrong with the single market?» (Working Paper, No. 1). Belgium: European Centre for International Political Economy. Retrieved from https://ecipe.org/wpcontent/uploads/2016/02/5Freedoms-012016
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