Est. 1min 18-06-2004 (updated: 07-11-2012 ) Euractiv is part of the Trust Project >>> Languages: Français | DeutschPrint Email Facebook X LinkedIn WhatsApp Telegram The Competition Commissioner challenged attempts by Paris and Berlin to create ‘European champions’ at the AmCham EU competition conference on 15 June 2004. Subscribe now to our newsletter EU Elections Decoded Email Address * Politics Newsletters BackgroundFollowing his recent meeting with committees of the French Senate, which was held behind closed doors, EU Competition Commissioner Mario Monti expressed his views on competition policy versus a 'pro-active industrial policy'. Germany and France have recently proposed the creation of 'European industrial champions', an idea which was also formulated by the former French Finance Minister Dominique Strauss-Kahn in his recently published report on 'Construire l'Europe Politique - 50 propositions pour l'Europe de demain' (see ). Some politicians have complained that EU mergers have been made more difficult, thereby facilitating subsequent takeovers by North American companies. Apparently preaching to the converted - mainly international law firms and US corporate representatives - the commissioner drew support for his market-based philosophy, tenaciously defending current EU policy. Monti is of the opinion that "the French debate is wrong", and that "the debate is limited to France and Germany". Moreover, he stated that competition could facilitate, rather than prevent, merger and acquisition activity across European borders. Indeed, in his view, markets do open up and only a few mergers have been turned down by the Commission. Moreover, Monti drew attention to the fact that 'national champions' have not always proven successful. While examples like Vivendi Universal have shown that they do not necessarily make for thriving businesses, in other cases, consumers and taxpayers run the risk of facing increased prices or subsidies. Monti's colleague Frits Bolkestein expressed similar views. In a recent article in the Financial Times, he attacked France and Germany for their approach to industrial policy, saying that the two governments used current fears about deindustrialisation as an excuse to reinforce state interventionism (see ). Further ReadingNon-assigned links LinksDossier:Industriepolitik Kommission: Mitteilung:Eine proaktive Wettbewerbspolitik für ein wettbewerbsfähiges Europa, COM (2004)293 (20.April 2004) Dominique Strauss-Kahn:Construire l'Europe Politique - 50 propositions pour l'Europe de demain(April 2004) AmCham EU Conference:AmCham EU's 21st Annual Competition Policy Conference - "Out With the Old, In With the New"(15.Juni 2004) Financial Times
