ECB’s Praet Says EU Must Be Very Careful About Industrial Policy
Posted on Tuesday February 19, 2019

“When you’re dealing with competition, it’s very difficult to talk in general terms as has been done in terms of winners and losers, champions and not champions,” Chief Economist Peter Praet told an audience in Berlin. It’s intended to strengthen European companies’ ability to deal with international competitors after the EU blocked a bid this month by Siemens AG to create a rail champion with France’s Alstom SA. Praet urged against the use of populist language when describing international competition and argued that the “traditional win-win of trade” still exists.

German govt adviser proposes broader view of EU antitrust rules
Posted on Thursday February 14, 2019

European Union antitrust rules could be reformed to introduce a two-stage review of mergers that would examine competition issues and then broader public interests, said the head of a German commission tasked with coming up with reforms proposals. Germany and France want to overhaul EU mergers rules following the European Commission's veto of efforts by Siemens and Alstom to create a European rail champion to compete with larger foreign rivals. Achim Wambach, who heads the German commission charged with presenting reform proposals, said a two-stage review of mergers could first look at competition issues and then at broader public interests - such as security issues and the impact on consumers.

[$$] Margrethe Vestager’s hopes of top EU role hit by rail deal veto
Posted on Wednesday February 13, 2019

When she defied France and Germany to end Siemens and Alstom’s ambitions to create a European rail champion, Margrethe Vestager risked scuppering an EU dream of her own: taking Brussels’ top job. Other candidates for commission president can hardly hide their glee. The EU competition enforcer remains on a shortlist of politicians linked with the job after emerging as the standout star of this commission, with qualities particularly appreciated by Emmanuel Macron: she befriended the French president at a time when his ambitions were written off by many and his support this time would be essential to her prospects.

[$$] Why EU had to stand firm against Siemens-Alstom merger
Posted on Tuesday February 12, 2019

At the stroke of a pen, European officials can shape markets and override corporate decisions with an immediate impact on investment, profits and jobs. Last week, France and Germany demanded changes to EU competition policy to allow European industry to survive against China’s state-backed giants.