1. BIICL Antitrust Conference London 2 May 2007 1 European Commission, DG Competition Philip Lowe A changing competition policy: Thinking back and ahead Philip Lowe

2. 2 European Commission, DG Competition Philip Lowe A changing environment n Globalisation n Enlargements n More economics

3. 3 European Commission, DG Competition Philip Lowe A changing legislative framework Antitrust modernisation n Decentralisation - European Competition Network n Enhanced priority setting based on market knowledge n More efficient fight against cartels n Improved guidance n Results: effective enforcement

4. 4 European Commission, DG Competition Philip Lowe A changing legislative framework: Revision of merger control rules n Principles remain the same n Amended substantive test n Improved handling of efficiency claims n More flexible and transparent procedure n Improved and more detailed guidance

5. 5 European Commission, DG Competition Philip Lowe A changing legislative framework: State aid reform n Less and better aid n State Aid Action Plan n Simplification

6. 6 European Commission, DG Competition Philip Lowe A changing organisation n Chief Economist Team n Peer review panels n Reorganisation along sectoral lines n Enforcement and monitoring Unit for State aids n Consumer Liaison officer

7. 7 European Commission, DG Competition Philip Lowe A changing role of competition policy n Competition advocacy – Improved regulatory environment – Contribution to other policies n Global Europe – Enforcement system with global reach – Multilateral cooperation in ICN – Free trade agreements with competition clauses