This chapter examines the competition policy practice in different jurisdictions, focusing on the European Union, the United Kingdom, the United States, and a number of emerging and developing economies (Brazil, China, India, Mexico, Russia, and southern Mediterranean countries). It begins with a discussion of the concerns of the competition authorities in the European Union and the United Kingdom about the banking sector and proceeds by considering practice in the main competition policy areas that have been active in banking: mergers, cartels and restrictive agreements, and state aid. Among other issues, it reviews the tensions between the prudential and the competition authorities, the recent cases of international cartels on Libor and foreign exchange market, and some landmark cases in the European Union. It also looks at consumer protection, with a new impulse from behavioral ideas, and the convergence in aims between consumer protection and competition policies.
European Union Competition Policy versus Industrial Competitiveness
