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

The European Union’s approach to antitrust law is based on the principle of competition to ensure fair and effective market competition throughout the European Union. The European Commission is responsible for enforcing competition law in the European Union. This includes identifying and preventing any anti-competitive behavior that can limit consumer choice and drive up prices. As part of their duties, the Commission can investigate, impose fines, and order companies to cease or modify their activities. The European Commission also has the authority to intervene in the market to ensure effective competition. This can include relaxing merger control rules and preventing companies from entering into agreements that limit competition or the ability of new companies to enter the market. The EU also has powers to address the problem of dominant companies, known as abuse of dominance, by imposing fines and relaxing market rules. The EU is also committed to creating a more competitive business environment that promotes innovation. This includes measures to reduce barriers to market access and promote free trade. It also promotes open competition between the public and the private sector. Finally, the EU is committed to encouraging fairer taxation of businesses and reducing regulatory costs.

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