Wambach: EU competition law is slow

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“There is a need for regulation and harmonization,” said Center of European Economic Research’s President Achim Wambach during a conference on reforming the regulation of professions organized by the European Commission in Brussels.

“Reforming the regulation of professions is a long goal of the European Commission,” Wambach added. “You have to do it on a profession by profession basis.”

When asked if the European Commission is well equipped to deal with Internet giants like Google or Facebook, Wambach said that European competition law is “broad enough to deal with this issues.” “However, the response time might be too slow,” he added.

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