Learning English - Words in the News 22 June, 2007 - Published 12:35 GMT EU business competition | ||||||||||||
There are fears that the treaty being debated by European leaders could reverse the policy of free competition for businesses across the European Union. The amendments no longer state this as one of the EU's objectives. This report from Alex Ritson: The European Union's competition authorities have been among the most aggressive in the world at breaking up monopolies. Airlines, telephone companies and energy companies are just a few of the industries that have been forced to allow their customers to choose to buy their services from someone else. And once competitors appear, the prices paid by customers tend to fall. But that liberalisation often put the European Union into conflict with national governments, such as France and Germany, whose natural instinct was to protect industries that employed thousands of people. Now the national governments are re-writing the EU's governing treaty and the draft version being considered by the EU's leaders in Brussels appears to scale back the commitment to a level playing field. Where the EU's previous treaties aspired to an 'open market economy with free competition', the new version describes a 'social market economy aiming at full employment'. Alex Ritson, BBC breaking up monopolies forced to natural instinct draft version to scale back commitment a level playing field aspired to full employment | LATEST STORIES 27 May, 2011 Destruction of smallpox virus delayed 25 May, 2011 Micro-finance 'misused and abused' 20 May, 2011 Lonely planets 18 May, 2011 Germany to invest in more electric cars 16 May, 2011 Argentina builds a tower of books Other Stories | |||||||||||