Previous article Next article

See original article in english Competition policy and the Covid-19 opportunity

ÉDITORIAL : UNION EUROPÉENNE - POLITIQUE DE CONCURRENCE - CRISE SANITAIRE - COVID-19

Competition policy and the Covid-19 opportunity

Cette courte note avance l’idée selon laquelle la crise du Covid-19 est une source d’opportunités économiques pour l’UE. La crise dégage des perspectives de croissance à long terme, en permettant la sortie de firmes « zombies », qui enferment des industries entières dans des équilibres suboptimaux en termes de productivité, de diffusion technologique et de dynamisme entrepreneurial. Pour saisir cette opportunité, la politique de concurrence doit renoncer à l’objectif de maintien coute que coute de la rivalité sur les marchés. Et elle doit promouvoir une approche résolument non-horizontale du contrôle des aides et des concentrations quand bien même celle-ci serait politiquement couteuse.

Introduction Every economic crisis raises the same normative question for competition law. Should decision makers be temporarily more permissive in their application of the law to private and public restraints of competition ? Covid-19 is no exception. While historical evidence from the Great Depression in the US suggests that this is a bad idea, most economic crises since the 1970s led to some softening of competition law. Covid-19, again, is no exception [1]. The European Commission (“EC”) recently signaled that it would let Member States cushion the economic effects of Covid-19 by massive infusions of State aid. In the past month, the EC has cleared all State aid related to Covid-19 in less than 48 hours, undertaking a necessarily summary and tolerant verification of the notified

Access to this article is restricted to subscribers

Already Subscribed? Sign-in

Access to this article is restricted to subscribers.

Read one article for free

Sign-up to read this article for free and discover our services.

 

PDF Version

Authors

  • Compass Lexecon (Brussels)
  • European University Institute (Florence)

Quotation

Jorge Padilla, Nicolas Petit, Competition policy and the Covid-19 opportunity, May 2020, Concurrences N° 2-2020, Art. N° 94321, pp. 2-6

Visites 4544

All reviews