EU law

Citizenship of the European Union was introduced by the Maastricht Treaty, which was signed in 1992, and has been in force since 1993. European citizenship is supplementary to national citizenship and affords rights such as the right to vote in European elections, the right to free movement, settlement and employment across the EU, and the right to consular protection from other EU states' embassies when a person's country of citizenship does not maintain an embassy or consulate in the country they need protection in. Stated rights Historically, the main benefits of being a citizen of an EU state has been that of free movement. The free movement also applies to the citizens of EFTA member states.[citation needed] However with the creation of EU citizenship, certain political rights came into being. The Treaty on the Functioning of the European Union provides for citizens to be "directly represented at Union level in the European Parliament", and "to particip...

Mergers and acquisitions Main article: European Union merger law Under the authority of Article 82 TEC, the European Commission became able not only to regulate the behaviour of large firms it claims abuse their dominant positions or market power, but also the possibility of firms gaining the position within the market structure that enables them to behave abusively in the first place. Regulation 139/2004 deals with mergers that have a "Community dimension" and lays out a procedure whereby all "concentrations" (i.e. mergers, acquisitions, takeovers) between undertakings are subject to approval by the European Commission. A merger or acquisition involves, from a competition law perspective, the concentration of economic power in the hands of fewer than before. In the European Union, under the Merger Regulation 139/2004. This is known as the "ECMR", and the authority for the Commission to pass this regulation is found under Art. 83 TEC. Competition law...

Main article: Article 102 of the Treaty on the Functioning of the European Union The economist's depiction of deadweight loss to efficiency that monopolies cause Article 102 is aimed at preventing undertakings who hold a dominant position in a market from abusing that position to the detriment of consumers. It provides that, "Any abuse by one or more undertakings of a dominant position within the common market or in a substantial part of it shall be prohibited as incompatible with the common market insofar as it may affect trade between Member States. This can mean, (a) directly or indirectly imposing unfair purchase or selling prices or other unfair trading conditions; (b) limiting production, markets or technical development to the prejudice of consumers; (c) applying dissimilar conditions to equivalent transactions with other trading parties, thereby placing them at a competitive disadvantage; (d) making the conclusion of contracts subject to acceptance by the oth...

Under EU law cartels are banned by Article 101 TFEU. Art. 101 TFEU makes clear who the targets of competition law are in two stages with the term agreement "undertaking". This is used to describe almost anyone "engaged in an economic activity"but excludes both employees, who are by their "very nature the opposite of the independent exercise of an economic or commercial activity"and public services based on "solidarity" for a "social purpose". Undertakings must then have formed an agreement, developed a "concerted practice", or, within an association, taken a decision. Like US antitrust, this just means all the same thing; any kind of dealing or contact, or a "meeting of the minds" between parties. Covered therefore is a whole range of behaviour from a strong handshaken, written or verbal agreement to a supplier sending invoices with directions not to export to its retailer who gives "tacit acquiescence" to...

European Union competition law arose out of the desire to ensure that the efforts of government could not be distorted by corporations abusing their market power. Hence under the treaties are provisions to ensure that free competition prevails, rather than cartels and monopolies sharing out markets and fixing prices. Competition law in the European Union has some similarities with the law in the United States antitrust, though there are some key differences; not least, while US law is designed to protect competitors from the power of monopolies, EU law is designed to protect consumers from anti-competitive behavior. Four main policy areas include: (1)Cartels, or control of collusion and other anti-competitive practices that affect the EU. This is covered under Articles 101 of the Treaty on the Functioning of the European Union (TFEU). Under EU law cartels are banned by Article 101 TFEU. Art. 101 TFEU makes clear who the targets of competition law are in two stages with the term ...

The Parliament and Council can be regarded as two chambers in a bicameral legislative branch of the European Union, with law-making power being officially distributed equally between both parliamentary chambers. However there are some differences from national legislatures; for example, neither the Parliament nor the Council have the power of legislative initiative . In Community matters, this is a power uniquely reserved for the European Commission . Therefore, while Parliament can amend and reject legislation, to make a proposal for legislation, it needs the Commission to draft a bill before anything can become law. The Parliament also has a great deal of indirect influence, through non-binding resolutions and committee hearings, as a "pan-European soapbox" with the ear of thousands of Brussels-based journalists. There is also an indirect effect on foreign policy; the Parliament must approve all development grants, including those overseas. For example, the support for ...