Competition in Changing Times FIW Symposium, Innsbruck

Introduction

It would be hard to imagine anywhere more different from my home country – where the average place is thirty metres above sea level. Here in Innsbruck, everywhere you go, you get a glimpse of the Alps. The mountains are a presence you can never forget. People here live every day amongst giants.

And I think that’s a feeling that most Europeans can relate to. Because we all deal with giants in our everyday lives. We depend on big companies for our most basic needs. On big drug companies to keep us healthy, big banks to lend us money, big online businesses to connect us to the world.

For the last sixty years, the EU competition rules have helped Europeans to live amongst those giants, with confidence that they’ll get a fair deal.

Because competition gives consumers the power to demand more. It means even the biggest companies have to keep working to meet their needs. And though our markets have changed a lot in sixty years, that goal is as important as it ever was.

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