The eye of the storm

Article Abstract:

The hard-line stance of the EC's competition directorate on anti-competitive practices has made the agency quite unpopular with some members of the Community. The French, for instance, has been calling competition commissioners the 'competition ayatollahs' after the directorate rejected the bid of France's Aerospatiale to acquire Canadian plane maker De Havilland. The EC's competition powers were expanded even more with the creation of the Merger Task Force, a body authorized to block any 'concentration' involving firms with EC sales of 250 million European currency units. The European Commission is likewise fighting against state subsidies. In its third report on state aid, the Commission cautioned against the potential misuse of subsidies as substitutes for trade barriers that have been removed during the European integration.

Economic policy, European Union, Powers and duties, Free trade, European Union. European Commission. Competition Directorate, European Community

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Germany comes alive

Article Abstract:

Management buyouts (MBOs) among West Germany's 340,000 independent, family-owned, small- and medium-sized businesses are increasing, but MBOs still face several major economic and political barriers. The increase in buyouts and acquisitions has been caused by concern over the impact of the European Community's Internal Market initiatives, and by attempts by entrepreneurs to realize profits before the tax rate increases to 53% in 1990. The barriers to increased merger activity include: heavy taxes and employee benefit obligations; the heavily leveraged nature of German companies; and lack of a developed venture capital market.

Economic aspects, Germany, Small business, Management buyouts, Germany, West

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