We test the economic principles that play a role for imposing fines against the intentions put forward by the EC Commission in the new 2006 Fine Guidelines. Whereas a number of economists in the past adopted the opinion that cartel enforcement policy was too lax in Europe, it is now much...

Roughly during the last decade, European Competition Policy has undergone a series of fundamental changes. All four areas – cartel policy, merger policy, abuse control, and state aid control – have been subject to a modernization process, which led to a focus on analyzing the effects of...

The modern industrial states desperately need more competition in order to generate growth and employment. Although the European Union pushed the member states to open several sectors to competition, there is much left to be done. At the same time powerful interest groups try to avoid or to...

This article investigates the nexus of competition and stability in European banking. It analyzes the European legal framework for competition policy in banking and several cases that pertain to anti-cartel policy, merger policy, and state-aid control. It discusses whether and how competition...