José Manuel Barroso, President of the EC, and Joaquín Almunia, Vice-President of the EC in charge of Competition, participated in the European Competition Forum. In his keynote speech entitled "European Union Competition policy: a building block for growth and renewal" the President stressed that at time so much effort was made to stabilise the economy competition policy had a fundamental role in providing credibility and coherence. He highlighted European competition law was cited as a model of independence, coherence and objectivity.
José Manuel Barroso added that monopolies and protectionism had an immensely corrosive effect on wider society and that in difficult economic times it was more important to combat them. He then explained that Europe's future growth prospects depended on a rules-based Single Market which fostered openness and innovation. The President concluded saying that Innovation was a cornerstone of the EU growth agenda because it was about more than product development. It was indeed about the way the society changed and improved and the way business was done. It was also about turning new ideas into growth for the companies, jobs for the citizens and well-being for the societies.

Type: College   Reference: I-072206   Date: 02/02/2012   Duration: 01:52