Modernization of European Competition Law as a Form of Convergence. Jean Monnet/Robert Schuman Paper Series, Vol. 4 No. 6, July 2004

Fiebig, Andre. (2004) Modernization of European Competition Law as a Form of Convergence. Jean Monnet/Robert Schuman Paper Series, Vol. 4 No. 6, July 2004. [Working Paper]

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Abstract

(From the introduction). Historians of European competition law will undoubtedly consider 1 May 2004 an epoch. On this date, not only will the European Union (“EU”) experience its largest single growth when ten new countries accede to the EU, (1) but also a number of major reforms of European competition law will become effective. Although the competition law reforms address a broad array of specific issues, they are generally considered an attempt by the Commission to modernize its competition law enforcement to create greater administrative efficiency and reduce compliance costs on firms. The modernization efforts should not be viewed in a vacuum. They are taking place at a time of increased public awareness of the tension between European and U.S. competition law. The divergent results reached by the U.S. and European antitrust agencies in the Boeing/McDonnell Douglas, (2) Microsoft (3) and GE/Honeywell (4) cases are just three examples of the public attention which the parallel application of competition law in a globalized world can attract when it leads to different results. Harmonization has been proposed as a method by which to address the conflict which often ensues from the parallel application of the competition laws. Although the European Commission has not formally recognized convergence with U.S. antitrust law as one of the objectives of the modernization process, this will be one of the unintended results. This contribution will first identify the main components of the European Commission’s modernization efforts. It will then explain how the modernization will result in convergence between U.S. and European competition law.

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