EU LAW Assignment.docx - Introduction Competition law plays...

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IntroductionCompetition law plays its role in protecting the process of competition in a freemarket economy.1In free market economy system, the allocation of resources is determinedsolely by supply and demand in markets and is free from the government intervention. Italso strongly contributes to the realisation of the overall objective of the European Union(EU) which is to create a strong economic, monetary and political unit.2It is implementedthrough public and private enforcement.3In the year of 1957, the EU competition policy was set out in the Treaty of Rome. Ithas a few objectives, some of which are common to all competition systems and some ofwhich are particularly to the EU.4A key function of EU competition law is to help inestablishing a single Union-wide market while promoting economic efficiency, the efficiencyallocation of resources and innovation.5The aim of this policy is listed down in Article 3(g) ofthe EC Treaty6which is to create a system that could ensure “that competition in thecommon market was not distorted”, i.e. an appropriately functioning market where thosecompetitors can compete fairly with each other.7Effective competition also enhances ‘consumer welfare’ by protecting consumersfrom excessive prices, poor quality or limited choice of products.8EU competition law hasalso focused on the need to protect small and medium-sized enterprises from being drivenfrom the market by larger companies.Unfortunately, the policies did not satisfactory clarify the purpose of EU competitionlaw.9The criticism about the lack of coherence within EU competition law, including Article101 and 102 Treaty on the Functioning of the European Union (TFEU) had risen to a new1 Alison Jones and Brenda Sufrin,EU Competition Law: Text, Cases and Materials, (6thedn, Oxford UniversityPress, United Kingdom 2016) 12 Piet Jan Slot, ‘Limits and Control of Competition with View to International Harmonisation’ <> accessed on 3 March 20183 Nigel Foster,Foster on EU Law, (4thedn, Oxford University Press 2013) 3324 Laurent Warlouzet, ‘The Rise of European Competition Policy, 1950-1991: A Cross-Disciplinary Survey of aContested Policy Sphere’, <>accessed on 3 March 20185 Lorna Woods, Philippa Watson and Marios Costa,Steiner & Woods EU Law, (13thedn, Oxford, UK 2017) 3256 Article 3(g) of the EC Treaty (Treaty of Rome)7 Piet Jan Slot (n2)8 Woods, Watson and Costa,Steiner & Woods EU Law(n5) 3629 Raimundas Moisejevas and Ana Novosad, ‘Some Thoughts Concerning The Main Goals of Competition Law’ <> accessed on 6 March 2018
level as the overall approach within the practice of competition law was too focused on a“pluralistic market structure” instead of the economic efficiency or welfare.10Thus, a changein the application of competition law policies is demanded.11It is submitted that the primary competition law of the EU is set out in Articles 101-

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Term
Spring
Professor
N/A
Tags
European Union, The Land, Competition law, EU competition law

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