Sunday 18 April 2021
Sunday 18 April 2021

The Position of Principles on the Competition Commission Issue, September 2006

19 September 2006

In open economies and societies, free competition is a major lever for growth and prosperity.  For this reason, the system of open market economy has prevailed almost in the entire world; it is explicitly mentioned in the Constitutional Convention of the European Union; and, it operates with increasing intensity in Greece too.

No matter how difficult and demanding it might be, healthy competition is supported by the modern business community, because it drives healthy enterprises’ growth and development, thus improving their products and services constantly for the benefit of consumers.

The law on the Protection of Competition is the most important law, as it stipulates, in detail and with precision, the mode of conduct for enterprises in the framework of an open economy whilst, at the same time, it protects their mutual relations and, above all, consumers themselves.  It is precisely for this reason that the effective implementation of this law is in the interests of the modern business community.

FGI believes that a powerful, impartial, independent and properly staffed Competition Commission is necessary for the essential implementation of this law.

Of course, it is obvious that, at every moment and in every way possible, the Competition Commission has to exercise its great power over market and enterprises prudently and objectively, its exclusive criteria for its good judgement being those provided by Law.

Thus, in addition to the basic objective of the law which is consumer protection, healthy entrepreneurship is promoted and the rule of law is safeguarded.

There is no healthy economy without entrepreneurship; there is no healthy entrepreneurship without healthy competition; as there is no competitive economy with State or private monopolies.  This is the principle governing the philosophy and operation of modern enterprises in our country too.

And this principle is distinctly expressed in article 4 of the Charter of Rights and Obligations for Enterprises adopted by FGI members at their annual general assembly in 2005, which explicitly states the following:

“An enterprise has the right of access to a unified and effective European market that would not be restricted by State or private monopolies and would operate under conditions that would not harm the direct or longterm competitive ability of that enterprise and of society as a whole.  An enterprise has the obligation to avoid harmonised practices and not to adulterate competition to the detriment of consumers.”

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