Mainland Europe adopts Germanic cartel business patterns

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 […]

The EU Commission implicates major banks in cartel cases, threatens with devastating fines

Three major international banking firms Crédit Agricole, HSBC and JPMorgan Chase came yesterday again under the watchful eye of the European Commission, for their role in financial sector cartels (interest rates and derivatives denominated in euro). It’s about financial products based on the Euribor (euro interbank offered rate), an interest rate benchmark. This interest rate […]

Why banks escape from competition rules but not pharmaceutical firms

Antitrust EU Commission services have an excellent record in identifying, monitoring, substantiating with facts and finally punishing cartels and dominant position abuses. This last week two concrete cases stand witnesses to that.Protecting consumers In the first case the European Court of Justice rejected an appeal against a General Court’s decision, which had upheld almost completely […]