Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-01-20-Speech-4-031-000"

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"Mr President, our eyes are currently on the summit between China and the US, because those two economies are seen as being the world’s two biggest economies. We are discussing when China will become the biggest economy, but that is based on a false assumption, because we forget that the European Union is the biggest economy, but that China and the US have the bigger markets. This is because of the lack of competition in the European Union across borders and within different areas. It is a lack of competition that makes us look upon them, instead of us, as having the self-confidence of being in the lead. That is why it is important, in the future, that the report on competition should also focus on the lack of implementation of the legislation which is already in place, and also on the lack of competition in the European economy. We need to do that in a number of areas. Also, to be the leading economy, we need to ensure that we are the most competitive economy. Let me tell you a secret: we will never be the most competitive if we do not have competition. State subsidies and regulations hindering new entrants are preventing the European economy from being in the lead. That is why we must ensure that state subsidies are always there only in exceptional cases, where nothing else can be done, or when we can channel them in a way that supports the common good without distorting competition. What we need to ensure is that we can allow for new entrants in as many areas of the European economy as possible. Competition is not about out-competing others. It is about allowing big companies to merge and grow bigger and bigger on the global scene, and about allowing new companies to open up to new innovations. We do have a lack here and it is the responsibility of the Commission to demonstrate that, and to take action so we can proceed together so that in the future, we will be looked upon as the leading economy."@en1
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