Merkel suggests rethink of EU competition policy

Merkel suggests rethink of EU competition policy
German Chancellor Angela Merkel delivers a speech during the 'Digitalising Europe Summit 2019' today. Photo: Markus Schreiber/PA.

German Chancellor Angela Merkel has said Europe may need to rethink its competition rules if it wants to create companies that can play a significant role on the global stage.

Mrs Merkel's comments at a digital business conference in Berlin come two weeks after European Union antitrust authorities blocked a deal to create a rail giant that could compete with China.

Merging the high-speed train businesses of France's Alstom and Germany's Siemens was seen as an opportunity to prepare for the global expansion of China's CRRC Corporation.

Without directly mentioning the failed deal, Mrs Merkel said the EU's stance on competition "leaves me in doubt about whether we can really produce global players this way".

She added that "for this we would first have to get European willingness to change competition law".

PA

More on this topic

Letter to the Editor: Diverting EU budget to fund military capabilities

Leo Varadkar rules out supporting the EU’s proposed budgetLeo Varadkar rules out supporting the EU’s proposed budget

EU leaders at odds over budget sizeEU leaders at odds over budget size

EU Commissioner Hogan sees 'massive' change after BrexitEU Commissioner Hogan sees 'massive' change after Brexit

More in this Section

UK stock markets pause for breath after plummeting on coronavirus fearsUK stock markets pause for breath after plummeting on coronavirus fears

UK warned it faces ‘tough road ahead’ as red lines drawn ahead of trade talksUK warned it faces ‘tough road ahead’ as red lines drawn ahead of trade talks

Battle lines drawn for Brexit trade talksBattle lines drawn for Brexit trade talks

Capitalism in need of rethink, Bank of England chief economist saysCapitalism in need of rethink, Bank of England chief economist says


Lifestyle

A S the Joker would say, ‘Why so Series X?’ But the next generation of the Xbox isn’t a joke for Microsoft, who have ground to make up on Sony in the console wars. The Redmond team disappointed this generation, making early mistakes that gave Sony all the momentum.GameTech: Get ready for the new Xbox

Cork actor Eanna Hardwicke may have grown up with a Young Offenders star, but he is set to make a name for himself with a string of big roles, writes  Esther McCarthyEanna Hardwicke: Cork actor about to burst onto the big screen

Should we be putting haemorrhoid cream around our eyes? Short answer... Absolutely not.The Skin Nerd: Are celebrity skincare tips all a load of Bullocks?

Peter Dowdall reports on how Blarney Castle's famous yew has bewitched onlookers for six centuriesBewitched: Help Ireland's most popular tree get the vote in Europe

More From The Irish Examiner