Saturday Jul 26, 2014 Search
Weather | Athens
32o C
23o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
EU directive for cartel damages

By Dimitra Manifava

Corporations and consumers will soon be able to seek damages for losses or lost profits from cartel activity, according to a proposal for a European Union directive that will likely be introduced during the course of the bloc’s Greek presidency.

This directive is among the main priorities of the country’s Development Ministry. After eight years of negotiations, it was adopted last June by the European Commission, discussed by the council of EU ministers in December and its first reading at the European Parliament will be on January 27.

According to the proposal, a necessary condition for anyone to resort to a civic court to seek damages will be the issue of a condemning decision by the national competition authorities on the operation of a cartel or abuse of dominant market position. Those seeking damages will not have to make their case a second time once the decision has already gone their way on a national level.

There is still a gray zone surrounding the issue of group cases (for example by consumer groups), as this has not been included in the proposal and proved to be a bone of contention during the years of negotiations about the directive. What it does include is the facilitation of consumers’ or corporations’ access to evidence that is usually in the possession of those accused or third parties. The proposal further provides for a statute of limitations as consumers or enterprises will have between three and five years to resort to justice against cartels – the precise length of that period remains under negotiation.

As soon as the directive is ratified, member states will have a grace period of two years to incorporate it into their national law. In Greece, the General Secretariat for Consumers had in the past prepared a bill to that effect, but it never reached Parliament.

ekathimerini.com , Thursday Jan 9, 2014 (22:49)  
Trade deficit grows 9.5 pct in Jan-May
Number of 5-star hotel rooms rises 31.4 percent in four years
Greeks get slightly less downbeat
Banks reluctant to issue credit
MP steps in to get power back on at invalid’s home
An MP had to intervene to get the electricity supply restored to the home of a man who requires a machine to help him breathe just days after a woman on life support died in Hania, Crete, as...
Civil servants who changed contracts to undergo checks
State inspectors are to begin checking the circumstances under which thousands of people working in the public sector had their fixed-term contracts switched to open-ended deals in the years...
Inside News
SOCCER
Ranieri says he has little to change in Greek national team
The Hellenic Football Federation (EPO) presented Claudio Ranieri as the new Greece coach for the next couple of years, after the Italian manager signed his contract in Athens on Friday. “I l...
SOCCER
Olympiakos downs AC Milan 3-0 in friendly
Greek champion Olympiakos defeated Italy's AC Milan 3-0 late on Thursday in a friendly match that launched the International Champions Cup in Canada and the US. The result, with goals from A...
Inside Sports
TALK
What lessons can we draw from antiquity?
Our theme is limits. And we are gathered here at this limit of Europe, close the to sea: the limitless, the boundless. And we face all sorts of limits. There are the limits of knowledge – fa...
COMMENTARY
Forty years of shortsighted party policies
It is 40 years since the restoration of democracy, and the two main parties which were established in 1974 and determined the country’s fate since then are unable to act their age. For decad...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Trade deficit grows 9.5 pct in Jan-May
2. Number of 5-star hotel rooms rises 31.4 percent in four years
3. Greeks get slightly less downbeat
4. Banks reluctant to issue credit
5. MP steps in to get power back on at invalid’s home
6. Civil servants who changed contracts to undergo checks
more news
Today
This Week
1. Greek coast guard picks up 77 migrants off Myconos
2. Draghi safety net becoming blindfold as bonds soar
3. Aegean Airlines resumes flights to Tel Aviv
4. Police report points to less crime in 2014
5. Godfather, 35, shot at Karditsa christening dies
6. Thousands of dead fish surface in Lake Pamvotis
Today
This Week
1. Greece seen in third bailout as bonds not enough, economists say
2. Climber dies in Mount Olympus fall
3. Greek sovereign debt at 174.1 percent of GDP in first quarter
4. Unequal after death
5. Hedge fund Dromeus turns Greek tragedy to triumph with 160 pct gain
6. Quadriplegic woman on life support 'dies due to unpaid power bills'
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.