The EU's competition policy should help, not kill European businesses

"The EU’s competition policy is still stuck in the 20th century. Nowadays, competition policy does not only need to have a European perspective, but a global one", explained Markus Ferber MEP, EPP Group Spokesman on Economic Affairs, as the European Commission presented its deliberations for a review of competition policy.

"The European Commission often applies a too narrow focus when judging mergers and looking at other competition infringements. If we want European companies to be able to compete against their US or Asian competitors, EU competition policy needs to get smarter in allowing European champions to emerge", he added.

When it comes to the Green Deal, Markus Ferber thinks EU competition policy should complement the ambitious policy proposals presented as part of the Fit for 55 package.

"The new competition rules should be implemented in a way that it will not destroy industry. If not, we will not get any closer to reaching the objectives of the Green Deal, but we will kill off value creation in Europe. For European companies to stay competitive and protect European jobs, we need a generous competition policy, but we do not need special treatment for green companies or investments as this would undermine the essence of competition policy", he concluded.