Competition policy– together with monetary policy – is one of the two strongest assets within the European Union that, thanks to the control of anti-competitive behaviour of companies, is able to maintain control of market conditions, taking care to protect consumers in their market choice.
The centralisation of competition policy, which is in the hands of the EU legislator, is, in fact, a guarantee of equal market conditions within the entire territory of the EU. This is thanks to the adoption of harmonised regulations that are applicable in all Member States.
The correct application of competition law is not only necessary to ensure fair and equal conditions of access to the market for companies, but it is also essential in order to protect consumers in their market choices, such that they are as favourable and convenient as possible.
Monitoring of the application of this sector of law, including within the digital sphere, lies with the European Commission and, in particular, with the DG Competition, of which Professor Mario Monti was the Commissioner between 1999 and 2004.
In the breath-taking ambiance of Vicenza’s Teatro Olimpico, DFA had the pleasure of attending the seminar of the former European Commissioner, at the Festival Città Impresa. There, we were able to really understand how it is increasingly important to keep the level of controls in the digital market high. The risk, (to the detriment of consumers and small and medium-sized enterprises), connected to abuses of commercial power and concentrations of predominant market shares achieved by company mergers is on the agenda.
It is therefore essential that consumers and businesses affected by these commercial behaviours are well aware of their rights and their powers to challenge the concentration of market power in the hands of these few large companies, which (thanks to the online market) are facilitated in the conquest of an even higher market share.