XXVIIth Report on Competition Policy 1997 : published in conjunction with the 'General report on the activities of the European Union - 1997'

The annual Competition Report always provides an opportunity to take stock of the Commission's activities on the competition policy front and to sketch out plans for the future. This year's report follows on in this more than a quarter century old tradition. We shall not dwell here on the traditional objectives pursued by the Commission through its competition policy (improving the competitiveness of businesses both large and small, opening up markets, improving the allocation of resources, increasing consumer choice, etc.), as readers are doubtless familiar with them. Nor shall we hark back to matters already expounded in previous reports such as the increasing globalisation of the world economy or the gathering pace of technological progress. We intend instead to address issues which are impacting the policy for which we are responsible and turning it towards horizons beyond those of the present-day concerns outlined in the body of the report: economic and monetary union (EMU), employment and enlargement of the Union. These three topics are so many challenges to be faced by competition policy in the years ahead.