Translation of "Sous-commission Economie des marchés et concurrence " (French → English) :

Subcommittee on Market Economy and Competition

principle of an open market with free competition

free economy | free enterprise economy | free market economy | liberal economy | market economy | market oriented economy

More developed market economies will benefit from greater cross-border investment and saving opportunities. Make the financial system more stable: by opening up a wider range of funding sources and more long-term investment, reduce the vulnerability of EU citizens and companies to banking shocks, such as those they were exposed to during the crisis. Deepen financial integration and increase competition: more cross-border risk-sharing, deeper and more liquid markets and diversified sources of funding should deepen financial integration, lower costs and increase European competitiveness.

Competition between payment card schemes to convince payment service providers to issue their cards leads to higher rather than lower interchange fees on the market, in contrast with the usual price-disciplining effect of competition in a market economy.

1. Welcomes the fact that the EU’s economic dimension in the Treaties is established as an ‘open market economy with free competition’; stresses that a reinforced focus on promoting competition is necessary for the achievement of the ambitious objectives for jobs, growth, investment and the global competitiveness of the European economy, as it is sustainable and effective competition that drives investment and end-user benefits and fuels the economy; highlights the essential role of competition policy enforcement in creating a level ...[+++] playing field that fosters innovation, productivity, job creation and investment by all players across the single market and across all business models, including SMEs, in full respect of national diversities; asks the Commission to enforce antitrust, state aid and merger control rules with a view to achieving a well-functioning internal market and social progress;

1. Welcomes the fact that the EU’s economic dimension in the Treaties is established as an ‘open market economy with free competition’; stresses that a reinforced focus on promoting competition is necessary for the achievement of the ambitious objectives for jobs, growth, investment and the global competitiveness of the European economy, as it is sustainable and effective competition that drives investment and end-user benefits and fuels the economy; highlights the essential role of competition policy enforcement in creating a level ...[+++] playing field that fosters innovation, productivity, job creation and investment by all players across the single market and across all business models, including SMEs, in full respect of national diversities; asks the Commission to enforce antitrust, state aid and merger control rules with a view to achieving a well-functioning internal market and social progress;