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Outline the evolution of E.U. competition policy. Is current policy likely to be successful in meeting the original objectives of E.U. policy?
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ES3931 - Competition & Industrial Policy in E.U. Ayo Olatunji Outline the evolution of E.U. competition policy. Is current policy likely to be successful in meeting the original objectives of E.U. policy?1 Competition Policy is the branch of law concerned with the regulation of anti-competitive practices, restrictive trade practices, and abuses of a dominant position or market power1. EU competition policy dates back to 1951 with the Treaty of Paris. Since then, EU policy on competition has evolved somewhat, however not to the extent that it will be successful in meeting the early objectives of EU policy. The 1951 Treaty of Paris, and subsequent creation of the European Coal and Steel Community (ECSC) in 1953, demonstrates the early EU belief in the static and dynamic benefits of competition. As such, the High Authority of the ECSC was given power to rule over certain anti-competitive practices that conflicted with the foundation of an integrated...
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