This title addresses whether the risks of a systemic crisis to an entire market can justify the adoption of a more lenient approach to established standards in competition enforcement. It provides a valuable practical guide for policy makers as well as practitioners in the field of competition...

The growing complexity of the financial sector and the extreme difficulty to cope with it has been of one the main insights gained from the recent financial crisis. We purport, albeit briefly, to assess some of the consequences of such complexity through the lens of the interplay between the...

Merger control during the financial crisis of 2007/2008 is one of the most challenging topics for EU Competition law. The global crisis tested the EU merger control framework in both procedural and substantial aspects. On the one hand, the national governments had an interest (responsibility) to...

Governments throughout the world responded to the financial crisis of 2008-2009 by granting massive bailouts to their largest and most interconnected banks. In most jurisdictions, financial stability took precedence over all other policy concerns, which meant that competition policy was...

The establishment of independent authorities for monetary policy and for competition policy was part of the institutional consensus of the Great Moderation. The paper contrasts how policy has operated in the two spheres, especially as regards the role of law. It then discusses the application of...

The fiscal governance of the EMU is in dire need of reform. Its current arrangements suff er from several shortcomings, most notably, the limitations they impose on national fiscal policies, steering them towards too restrictive or pro-cyclical stances; the absence of an unconditional lender of...