What is the European Union’s approach to antitrust law?

The European Union (EU) has its own specific approach to antitrust law, which is reflected in the EU’s competition rules. These rules seek to maintain competition in the EU’s single market and ensure that businesses are not able to use their market position to prevent competition. The EU’s competition rules cover a number of areas, including cartels, anti-competitive agreements, abuse of a dominant market position, and mergers and acquisitions. At the heart of the EU’s competition rules is the notion that competition between businesses should be allowed and encouraged. The rules seek to ensure that businesses don’t act in an anti-competitive manner by agreeing to fix prices, limit production, or divide up markets between them. The EU also prohibits anti-competitive agreements such as exclusive purchasing agreements and tying agreements. The EU also seeks to protect consumers by preventing businesses from abusing their dominant market position, such as by charging excessive prices. In addition, any proposed mergers and acquisitions must be reviewed to ensure that they do not lead to a lessening of competition in the market. Finally, the EU has established an independent enforcement agency, the European Commission, which has the power to investigate suspected violations of the EU’s competition rules and impose fines. The Commission is also responsible for industry-specific antitrust laws, such as those pertaining to telecommunications, banking, and energy. Overall, the EU’s approach to antitrust law is designed to protect competition and the interests of consumers within the single market.

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What is the European Union’s approach to antitrust law?

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