Margrethe Vestager it has Roman law as its model to guide the European Antitrust. “Lady Tax”, As defined by the former American president Donald Trump for the sanctions inflicted on US multinationals and Big Tech, including Google e Amazon, was a guest today in Rome at the annual convention of the Italian Antitrust Association.
Vestager: “Rebuilding the economy in a way that is consistent with our green and digital future “
“I thought nothing could make me love this city more”, “Then I learned that Rome was the cradle of competition law. Two thousand years ago, the Emperor Augustus – or perhaps his predecessor Julius Caesar – established that anyone who committed an act or formed an association in order to increase the price of commissions would have to pay a fine of twenty gold coins “, the vice president of the European Commission said, fascinated.
“Ancient Roman law – Vestager recalled – dealt with a specific type of cartel: price-fixing agreements“. “And such cartels are still the daily bread of our work, together with market sharing agreements“, Underlined the commissioner responsible for antitrust policies. “We all know that our economy is facing enormous challenges: not only the need to recover from the deep crisis caused by the coronavirus, but also to rebuild in a way that is consistent with our green and digital future”, Vestager recalled.
“It is more important than ever that our markets function fairly and correctly “
“At a time like this – he added – it is more important than ever that our markets function fairly and correctly, not least by taking decisive action to counter cartels ”.
“That’s why we are investing so much right now to make sure our work remains relevant”, reiterated the vice president, also revealing that he had hired the Antitrust “specialized investigators and intelligence analysts “. “In 2016”, he added, “We have established an intelligence unit, which uses expertise to design more modern and effective strategies for detecting and prosecuting cartels. Over the past five years, the unit has helped investigate more than 30 cartel and antitrust cases. And it is likely to play an increasingly vital role in our work in the years to come ”.
In addition, he said he had “Introduced a tool for whistleblowers, which they can use to report cartels to the Antitrust, with the guarantee of anonymity: we can use this information to ask for more clarification”.
“As Julius Caesar would have said, the die is cast
“As Julius Caesar would have said, the die is cast. And the months and years to come “, concluded Vestager, “Will show the results“.
“Italy aligns competition laws to European standards”
Yesterday, from Bologna, Vestager urged the government and Parliament to pass the new competition law in line with European standards. It’s important “Make sure that the competition laws work well, aligning Italy”, he warned, “With European standards”.
Just today, Prime Minister Mario Draghi announced, during a press conference in Brussels at the end of the European Council: “we will present the Competition law“. We will see how it will meet European standards.