More, not less, competition is needed in Europe
The prohibition of the merger between Siemens and Alstom triggered a political discussion. Do we need “European champions”? And does antitrust law possibly stand in the way of a reasonable industrial policy? Competition economists Massimo Motta from the University of Pompeu Fabra in Barcelona and Martin Peitz from the University of Mannheim drafted an open letter that we publish on D’Kart today. Their plea for a competition-oriented policy was signed by numerous other renowned competition economists, including our Düsseldorf colleagues Justus Haucap,…