Saturday Jan 31, 2015 Search
Weather | Athens
16o C
13o 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)  
ECB’s Constancio signals Greek waiver may end if program dropped
Greece starts countdown to cash crunch saying bailout over
How Greece can run out of cash and what ECB’s Draghi can do
Varoufakis to meet French counterpart on Sunday
Tsipras says Greece to repay ECB, IMF, reach deal with euro area
Greek Prime Minister Alexis Tsipras sought to repair relations with the country’s creditors after a week- long selloff in bonds and stocks, triggered by his pledge to end the country’s bailo...
Greece seeks EU allies but Germany holds firm
Greeces radical new government on Saturday began a search for European allies forits anti-austerity agenda, but German Chancellor Angela Merkel once again ruled out debt relief for Athens. P...
Inside News
BASKETBALL
Panathinaikos preserves perfect home record
After yet another great performance at home, Panathinaikos defeated Galatasaray 86-77 in Athens on Friday to get to three wins in five games at the Euroleague top-16. The Greek champion shoo...
SOCCER
Gattuso: Unpaid OFI players couldn´t buy food
Former coach Gennaro Gattuso has lifted the lid on the plight of crisis-club OFI Crete which has been banned from playing in the Super League until it clears mounting debts with its staff. T...
Inside Sports
COMMENTARY
Unyielding truth
Finance Minister Yanis Varoufakis’s recent statement that “growth does not mean having Porsche Cayennes in the narrow streets of Greece” has made something of an impression and is now being ...
EDITORIAL
This is not a game
Greece’s negotiations with its partners and creditors must be conducted in such a way as to safeguard the country’s real economy, a vital sector which prior to the elections had appeared to ...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. ECB’s Constancio signals Greek waiver may end if program dropped
2. Greece starts countdown to cash crunch saying bailout over
3. How Greece can run out of cash and what ECB’s Draghi can do
4. Tsipras says Greece to repay ECB, IMF, reach deal with euro area
5. Varoufakis to meet French counterpart on Sunday
6. No lending to Greek banks if no deal by end of February: ECB´s Liikanen
more news
Today
This Week
1. US to work closely with Greece and EU to resolve differences, says White House
2. Greek bank debt plummets as investors head for the exit
3. Merkel rejects debt writedown for Greece
4. Greek markets plunge as SYRIZA digs in on challenge to austerity
5. Tsipras says Greece to repay ECB, IMF, reach deal with euro area
6. Greece seeks EU allies but Germany holds firm
Today
This Week
1. Greek Elections 2015 | LIVE
2. SYRIZA heads for historic victory but without majority
3. Greek Elections 2015 | LIVE
4. SYRIZA's win will test institutions
5. Greek Elections 2015: The day after | LIVE
6. EU must accept that Greek debt relief is inevitable
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.