Mainland Europe adopts Germanic cartel business patterns

Press conference by Margrethe Vestager, Member of the European Commission in charge of Competition about maritime car carriers cartel. Date: 21/02/2018. Location: Brussels – EC/Berlaymont. © European Union, 2018 / Source: EC – Audiovisual Service / Photo: Jennifer Jacquemart.

As in VW’s diesel engines emissions scandal, in the case of Estonia’s half banking system working as mafia’s financiers, it was the Americans to unveil the wrongdoings. Is it by chance or the Europeans are looking the other way, when it comes to their own dirty laundry? Those calculated frame ups are not only meant to blind, the usually accommodating authorities, but more so to rig the consumers. Again last week it was the Americans who accused the German luxury car company BMW for rigging its diesel engines emissions exactly as VW did.

And what about the good old free market competition in Europe? All kind of public opinion leaders, mainstream politicians, economists, journalists and ideologists have been brainwashing us for centuries about that. However, when the real danger approaches for some long established companies – being theoretically competitors – like the German carmakers, they get together and untrammeled by any authority they form illegal cartels to confront an existential challenge, as it’s currently the advent of the electric car era.

German carmakers cartel

VW has invested heavily in diesel engines, and now tries to remedy this monumental blunder by teaming up with the rest of the German carmakers to face the Tesla challenge. In the latest incident that the Europeans forget what about capitalism is – free and fair completion – BMW and Daimler the largest luxury car producers, teamed up to confront the challenge of Uber, the US firm which changes the way people move in the urban environment. Cheating and forming cartels has become in Europe the standard business behavior, mainly by German multinationals.

Nobody seemed to also care less for the competition rules than in the largest German bank, the infamous – by good business standards – Deutsche Bank. Some two years ago when it had grave difficulties with the US authorities and was plagued with financial and penal litigations and huge fines, the German big business/government bosses – the joint deep state circles – rose and with one voice said they would do whatever it takes to save the bank.

Rigging competition rules

Mind you, this was not the European Central Bank, the competent authority to take any action in favor or against Deutsche bank. It was the ‘deep German state’ that knows no limits when it’s about salvaging their own and their way of doing things. This obvious breach of competition rules didn’t attract any interest from the competent authorities in Brussels and Berlin. It’s the usual European inaction, when ‘our guys’ are doing something wrong. It’s exactly as in 2008, when the Berlin government saved a number of faltering regional deposit banks with illegal subsidies of €50bn  – traditional German regional banking institutions – without even telling the Brussels competition authorities about it.

Still to this day, Deutsche Bank is in turmoil. Its CEO John Cryan, a transfer from London’s misty banking alleys, the non executive President Paul Achleitner, a real ‘deep state’ fox and the CFO James von Moltke, a strict accounting animal, are hammering each other, with accusations quite unusual for that kind and size of business and nobody tells us why or for what. The CFO accuses the CEO of wrongdoings with nothing less than half a billion dollars without elaborating and Achleitner doesn’t say a word.

Obscure practices

According to the reliable business news group Handelsblatt, it’s about “unexpected charges of half a billion dollars for the first quarter”. Again, this is not good business practice and of course it’s neither free and fair completion/capitalism. In such a grey financial environment no economic actor can make decisions in full knowledge of the terms of the game and of the possible repercussions of its action. Big business leaders work behind closed doors and usually advertise the opposite of what they have secretly decided to do. The rest of the economy is left in darkness.

Speaking of big business wrongdoings, of course the Americans have their share. Take, for example, the technology Leviathans Alphabet/Google, facebook, twitter, Apple, Amazon, Microsoft and others less knotted with people’s everyday life. They are all systemic tax evaders and data usurpers. However, they do not flagrantly breach competition rules as the Europeans do. For example the AT&T merger with Time Warner has stirred up political opposition and the American Congress is against it. At the same time, Brussels rushed to approve the monstrous acquisition of Monsanto by Bayer for €62.5 billion, before the US authorities have even said a word. This is an obvious backing by the European authorities for ‘their own’ Bayer, in order to facilitate and possibly instigate the clearance of the acquisition in the US.

It won’t be an exaggeration then to assert that in mainland Europe in general and in the Germanic sphere in particular, it’s almost a tradition the authorities of whatever level to consider themselves obliged to facilitate the life of big business interests.

the sting Milestone

Featured Stings

Can we feed everyone without unleashing disaster? Read on

These campaigners want to give a quarter of the UK back to nature

How to build a more resilient and inclusive global system

Stopping antimicrobial resistance would cost just USD 2 per person a year

The sustainable fashion revolution is well underway. These 5 trends prove it

With rapid, far-reaching changes, world can prevent climate change worst-case scenarios – UN chief

The ‘American Dream’ can be best achieved in the Nordic nations, says Finland’s PM

Venezuela: MEPs demand free presidential elections and an end to repression

UN, global health agencies sound alarm on drug-resistant infections; new recommendations to reduce ‘staggering number’ of future deaths

Cyprus President urges collective leadership to address ‘root causes’ of world’s crises

Women Win in the West

Our idea of what makes a company successful needs to change. And it starts with making waste expensive

What do the economic woes of Turkey, Argentina and Indonesia have in common?

Draghi: Germany has to spend if Eurozone is to exit recession

Should we be worried about third-hand smoke?

4 eco-friendly products put sustainable spins on classic practices, from teacups to hankies

Can privatisation be the panacea for the lack of growth in Europe?

One in three Venezuelans not getting enough to eat, UN study finds

How AI and machine learning are helping to fight COVID-19

IMF: World cup and productivity

4 ways digitisation can unlock Africa’s recovery

Somalia: UN Security Council condemns terrorist attack in which dozens were killed or injured

UN agency assists Central American caravan migrants, voices concern for receiving countries

JADE Generations Club: Connecting perspectives, changing Europe.

We are on the edge of a new ‘cyber’ space age. This is how we make it a success

On sidelines of UN climate summit, US President calls for protection of religious freedom

The future of crypto-assets, from opportunities to policy implications

This app uses augmented reality to rewrite ‘herstory’

7 top things to know about coronavirus today

UN chief praises Malaysia’s death penalty repeal as ‘major step forward’

Political solutions ‘prerequisite to sustainable peace’, Lacroix tells Security Council

Building an Inclusive ICT Innovation Ecosystem

Wednesday’s Daily Brief: mental health, conflict prevention, Ebola in Uganda, Sudan protests, child labour

How technology and play can power high-quality learning in schools

‘Our goal is to democratize the air.’ How aerial transportation will shape cities of the future

Force used against protestors in Gaza ‘wholly disproportionate’ says UN human rights chief

Mexico cannot move forward ‘without addressing the shadows of the past’, says UN rights chief

How Africa’s women can drive the 4IR forward

Spotlight Initiative – EU and UN fight against domestic violence in the Pacific region

World Health Organization calls crisis meeting over deadly Ebola outbreak in DR Congo

Cheap sea transport with low cost seafarers

This is how we inspire young people in the Middle East to join the fight against climate change

Annual UN women activists’ summit opens with focus on services, infrastructure

Researchers have invented a brick that can build itself

The impact of COVID-19 on the life of the elderly

What can each individual do to lessen the burden of mental health in times of the pandemic?

JADE President opens JADE Spring Meeting 2014

A year on from Yemen talks breakthrough, top UN Envoy hails ‘shift’ towards peace, despite setbacks

Crowdfunding: what it is and what it may become

Easing funding woes for UN agency assisting Palestine refugees a ‘wise investment for today and the future’

New EU rules to boost crowdfunding platforms and protect investors

Draghi: A bridge from Brussels to Berlin

Why do US presidential elections last so long? And 4 other things you need to know

Constitutional Committee breakthrough offers ‘sign of hope’ for long-suffering Syrians

Saudi Arabia: UN experts push for prompt release of women human rights defenders

This is what’s happening to the Amazon, according to NASA

Africa is facing a food crisis due to COVID-19. These seeds could help prevent it

The Great Reset requires FinTechs – and FinTechs require a common approach to cybersecurity

Member States’ compliance with EU law in 2019: more work needed

Chinese Premier Li Keqiang’s speech from World Economic Forum’s Annual Meeting of New Champions

5 reasons why biodiversity matters – to human health, the economy and your wellbeing

5 lessons for social entrepreneurs on how to change the system

Consultant in Forensic Technology – 1969

UN condemns deadly attack on Burkina Faso church

More Stings?

Advertising

Speak your Mind Here

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s