Achim Wambach, an expert at the Commission on competition law set up by the German Ministry of Economic Affairs, has called for regulation of the online platforms that dominate the market.
Minister Altmaier stated, “We will only be able to maintain our prosperous society if we continue to have internationally competitive companies in Germany and Europe in future. We need to strike the right balance for the digital economy: on the one hand, we need to nurture the possibilities for German and European digital companies and platforms to grow, and on the other we need to prevent the abuse of market power and to keep markets open. Following a year of intensive work, the Commission ‘Competition Law 4.0’ has presented specific proposals for the future framework for competition for the digital industry in Europe. I am most grateful to the experts of the Commission ‘Competition Law 4.0’ for all the work they have done.”
According to their press release, online platforms, global tech companies, and data-based business models are changing our economy and the life of every individual ever more quickly. In September 2018, Minister Altmaier therefore tasked an independent body of experts, the Commission ‘Competition Law 4.0’, with presenting proposals for reform, particularly of European competition law.
The full version of the report by the Commission ‘Competition Law 4.0’ can be found here (in German).
Full Content: BMWI