I. Introduction On 2 April 2020, the Court of Justice of the European Union ("CJEU") delivered its judgment in Budapest Bank, another key ruling on the assessment of 'by object' restrictions of competition within the meaning of Article 101(1) TFEU. With this judgment, the CJEU continues the trend of previous decisions, such as Cartes Bancaires  and more recently Generics UK  , in which the CJEU reiterates that stringent requirements apply to the establishment of 'by object' restrictions of competition. The much-anticipated preliminary ruling on reference from Hungary in Budapest Bank is specifically of interest as it sets out in detail what kind of evidence parties may produce to show that their conduct does not amount to a restriction of competition
The EU Court of Justice emphasizes the need for a case and context-specific evaluation of ’by object’ restrictions and provides guidance on what sort of evidence is relevant, in a multilateral interchange fee credit card transaction (Budapest Bank)
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