Monday, January 29, 2007

EU-Commission report on Commission likely to be quite mild and unimpressive

Reuters reports about a peep it was offered in the outcome of the retail banking competition enquiry. After having barked terribly, it seems that the EU Competition watchdog isn't likely to bite on an European scale:
BRUSSELS, Jan 29 (Reuters) - Sweeping change to the credit card system in the European Union has been ruled out in favour of a more cautious approach, the bloc's antitrust chief will say on Wednesday, a source familiar with the situation said.
Neelie Kroes' report on EU retail financial services will stop far short of the actions urged by retailers, who want a ban on the complicated fee structure that has come under attack in Australia and other jurisdictions.

So it's most likely going to be business as usual, with Commission and competition authorities stepping up their efforts to eliminate market inefficiencies.