Local view for "http://purl.org/linkedpolitics/eu/plenary/1999-11-17-Speech-3-061"
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"en.19991117.3.3-061"2
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"Mr President, Europe’s new role in the world will be conditioned by external and security policy, but also by the tensions between social, economic and political needs. The world trade round is therefore exceptionally important in Europe speaking with a single voice in world trade negotiations so that social and environmentally-friendly growth can also gather pace through the contribution of world trade.
Since 1990 there has been a worldwide increase in mergers and also the market power of transnational concerns. It is therefore very important that the Millennium Round creates multilateral rules against private restrictions in competition. An international competition system must create minimum norms so as to prevent anti-competitive behaviour such as the forming of price and area cartels, the misuse of a market-dominant position or vertical and horizontal competitive restrictions which distort competition.
Part of these minimum norms must be the obligation for WTO Member States to bring their domestic competition law into line with multilateral agreements and minimum norms. This means that the Millennium Round must not create a global cartel authority. It must, however, subject domestic competition rules to monitoring. It would be contrary to the rules of GATT, CFSP and WTO if free and fair world trade between states were valid, but not for private economic players. Monopolies and cartels damage consumers and societies. The Microsoft case in the USA clearly demonstrated this.
The increasing willingness for mergers between transnational companies and the impotence of the national state with regard to the formation of monopolies, oligopolies and cartels endanger the objectives of world trade to contribute to prosperity and peace worldwide.
Furthermore, it is also particularly important that we realise that the decrease in growth in the world economy is also linked to the instability of the international finance system, which is characterised by vast, rapid and worldwide financial transactions and which has detached itself from the real economy, yet still affects investments, growth and employment. For this reason, the Millennium Round must contribute to coherence in the world economy between trade, economic, currency and financial policies."@en1
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