The state of the union : European community competition law at the crossroads

Abstract

Competition Law has proved to be a dynamic legal institute of great economic, legal and social significance. Indeed, the over-all positive effect this institute has had in the United States of America since the Sherman Act (1890), and in Europe since the Treaty of Rome (1957), is plainly manifest. Other contending economic strategies have in the long run proved to be inconsequential. Fair Competition is paradoxically dominating the economic environment, at least, in democracies. Like all other legal institutes, this too naturally directly effects the well being of those falling within this regimen. Strategists therefore, have to be quite alert to avoid situations that rather than leading to the intended positive effects advocated by academic analysis instead lead in the opposite direction to the detriment of those that have to bear its weight. The emphasis within the European Community for prospective Member States to adopt this legal regime in their legal order has therefore to be treated with great circumspection. The pre-accession period does not consequentially necessitate a period of mere structural readjustment. It also demands a period of deep reflection for the redefinition and proper assimilation of the delicate issues involved.