Thursday October 23, 2014 Search
Weather | Athens
24o C
14o 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)  
Athens weighs its LNG and CNG options
Greece ranks among global leaders in tourism growth
Global oil price drop sends local fuel prices back to 2010 levels
Buy big house, become a citizen
Cyprus seeks EU response over Turkey´s EEZ violation
Cyprus is to raise the issue of Turkey’s violation of its exclusive economic zone (EEZ) at Thursday’s European Council meeting after Turkish Prime Minister Ahmet Davutoglu raised the specter...
Thirteen indicted for inmate torture
Thirteen correctional officers and their former warden will stand trial in Serres, northern Greece, over the death of Albanian inmate Ilie Kareli on March 27 at Nigrita Prison. Kareli was tr...
Inside News
SOCCER
Roberto´s heroics make Kasami´s goal count
Pajtim Kasami’s goal and Roberto’s heroics in goal saw Olympiakos claim one of the biggest wins in its history on Wednesday downing Italian champion Juventus 1-0 to boost its chances of reac...
SOCCER
Third-division Iroditos punished heavily after fan death
Greek third division team Irodotos has been docked 15 points and ordered to play 10 matches behind closed doors following the death of an Ethnikos Piraeus supporter, the Hellenic Football Fe...
Inside Sports
COMMENTARY
Careful what you wish for
Everyone is in a rush to become prime minister in this country, as if they have not learned a single thing from its political history. While still in opposition, PASOK’s George Papandreou ma...
EDITORIAL
Taking care of our key industry
It’s time to face facts: Tourism is the country’s heavy industry. The sector’s considerable contribution has served as a stabilizing factor for the local economy, essentially placing the cou...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Roberto´s heroics make Kasami´s goal count
2. Athens weighs its LNG and CNG options
3. Greece ranks among global leaders in tourism growth
4. Global oil price drop sends local fuel prices back to 2010 levels
5. Buy big house, become a citizen
6. Cyprus seeks EU response over Turkey´s EEZ violation
more news
Today
This Week
1. At least 11 banks to fail European stress tests, three in Greece, report says
2. Cyprus to block Turkey's EU talks after EEZ violation
3. EU’s Juncker wins Commission-team approval with investment vow
4. Juncker’s EU commission team set for parliamentary green light
5. Taprantzis resigns from privatization agency TAIPED
6. Fallen tree, smashup cause traffic jams in Athens
Today
This Week
1. Istanbul skyscraper casts shadow over Greece's banking ambitions
2. Coalition shooting itself in the foot
3. Greece’s closed society is central to its current malaise
4. Greece must stick to reforms, says Schaeuble
5. The past, present and future of the Greek debt crisis
6. Samaras’s crumbling Greek exit lacks backing from economists
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.