“Free competition" is not an end in itself...

Faced with globalisation, Europe has to choose between defense, trying to resist change, and dynamism, actively seeking out the opportunities the international scene has to offer. We should firmly choose the latter. Europe need not fear globalisation. The “regional globalisation” in Europe over the last 50 years shows that fair and undistorted competition in an integrated market works to the benefit of all in terms of prosperity, choice and sustainable employment. “Free competition" is not an end in itself - it is a means to an end. When we strive to get markets working better, it is because competitive markets provide citizens with better goods and better services, at better prices. Competitive markets provide the right conditions for companies to innovate and prosper, and so to increase overall European wealth. More wealth means more money for governments to use to sustain the fabric of our societies and to guarantee social justice and a high-quality environment for generations to come. A close look at competition policy can help us to identify the ’right’ answers to globalisation. We must: i) Create and maintain the right framework for business in Europe, in the context of a global economy ; ii) Help develop a global level playing field, and iii) Keep our markets open.