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PROFIL: CONCURENA

TIPAR/PRINTED BY: VEGA PROD

Nevoia de competitivitate i performan n economia romneasc The need of competitiveness and performance in the Romanian economy Otilian NEAGOE Dreptul concurenei i organizaiile nonprofit n Statele Unite ale Americii, Uniunea European i Germania The competition law and not for profit entities in United States of America, European Union and Germany Nathaniel CORNOIU - JITRAU Autoritatea de Valorificare a Activelor Statului i Consiliul Concurenei un lung proces de colaborare activ n domeniul ajutorului de stat The Authority for State Assets Recovery and the Competition Council a long and active cooperation process in the field of state aid Mircea URSACHE Ieirea din criz - cazul Romniei interbelice Economic crisis and reestablishing in the inter-war Romania Marcela SLGEAN Concluzii rezultate din analiza Raportului ajutoarelor de stat acordate n Romnia n perioada 2005 2007 Conclusions drawn from the Report of the state aids granted in Romania between 2005 and 2007 Daniel DIACONESCU, Constana DUMITRESCU Piaa grului concluzii ale raportului investigaiei utile Wheat market conclusions of the sectoral inquiry report Maria ALEXANDRU Evoluii recente n politica SUA n domeniul concurenei Recent developments in the United States competition policy Cristina HAVRI Politica i legea concurenei n contextul actualelor provocri economice la nivel global Competition law and policy in the context of the current economic environment in distress at global level Daniela ELEODOR Nouti n domeniul concurenei i ajutorului de stat News in the competition and state aid field Carmen BUCUR

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NEVOIA DE COMPETITIVITATE I PERFORMAN N ECONOMIA ROMNEASC


Otilian NEAGOE 1

Economia Romniei, marcat puternic de recesiunea economic, se afl la intersecia dintre structurile nematurizate ale economiei funcionale de pia i procesele emergente ale tranziiei externe, specifice fenomenului convergenei europene. Provocarea strategic pentru tranziia extern a Romniei, oficial declanat n 2007, este capacitatea precar de susinere a convergenei reale, creterile de produs intern brut fiind rezultatul tot mai evident n ultimii 2 - 3 ani, al stimulrii agresive a consumului prin angajarea unor cheltuieli care nu au avut acoperire din surse interne. n aceste condiii, competitivitatea i convergena european a proceselor economice romneti se resimt profund i ca urmare a efectelor crizei financiare. Astfel, Romnia este n situaia dificil de a pierde att competiia cu sine, relevana social a aciunilor transformaionale de la nivelul economiei, ct i competiia n context european, activarea potenialului de convergen, pentru ieirea din condiia de periferie a UE. Semnalele cele mai puternice de vulnerabilitate a evoluiilor romneti n perioada de postaderare sunt: amplificarea dezechilibrelor interne; agravarea alarmant a unora dintre deficite; decalajul structural dintre cererea agregat n expansiune, mai ales pe segmentul consumului menajelor i oferta intern rigid; presiunea cheltuielilor salariale;

plafonarea iniiativei sociale, cu deosebire a iniiativei antreprenoriale (cca 20 de IMM uri la 1000 de locuitori, fa de 56 media european); recuperarea decalajelor reale fa de UE nu are orizont de timp stimulativ raportat la ateptrile oamenilor; deficitul de bunstare agravat de evoluia crizei financiare, resimit prin diminuarea dramatic a puterii de cumprare, accentueaz un moral social slab; evoluiile n structura socio-ocupaional sunt haotice, n absena proiectului; slaba capacitate de inovare economic i social.

Spargerea cercului vicios al decalajelor reale are dou soluii complementare: valorificarea integral a finanrii aferente procesului de integrare i intensificarea efortului propriu n realizarea proiectului romnesc de modernizare, mai ales n componenta lui inovativ, susinut de educaie. Este nevoie de o ajustare raional a cheltuielilor, care trebuie s vizeze dezvoltarea infrastructurii naionale, att cea din transporturi, ct i n domeniul educaiei, sntii, dezvoltrii rurale i proteciei mediului.

Vicepreedinte al Consiliului Concurenei.

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THE NEED OF COMPETITIVENESS AND PERFORMANCE IN THE ROMANIAN ECONOMY2


Otilian NEAGOE3

The Romania's economy, intensely marked by the economic recession, is at the crossing point between the immature structures of the functioning market economy, and the emerging processes of the external transition, typical of the European convergence phenomenon. The strategic challenge for the Romania's external transition, officially started in 2007, is the precarious capacity to encourage the real convergence, the GDP increases becoming more and more obviously, over the last two years the result of the aggressive stimulating of the consumption, through the engaging of certain expenditure without covering from domestic sources. Given such conditions, the competitiveness and the European convergence of the Romanian economic processes are deeply suffering from the financial crisis effects too. Thus, Romania is in the difficult state of losing both the competition with itself, the social relevance of the innovating deeds carried out at the economy level, and the competition developed within the European context, the intensifying of the convergence potential, in order to get rid of the state of European Union' purlieus. The more intense vulnerability signs of the Romanian developments, over the post-accession period, are the following:
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housekeeping consumption segment, and the stiff domestic supply; The wages expenditure pressure; The limiting of the social initiative, especially of the entrepreneurial one (about 20 SMEs per 1000 inhabitants, as compared with the European average of 56 SMEs per 1000 inhabitants); The redeeming of the real gaps towards the European Union has got no stimulative temporal horizon, with reference to people expectations; The welfare deficit worsened by the development of the financial crisis, felt by the dramatic decreasing of the purchasing power, is stressing a feeble social morale; The evolutions within the socio-occupational structure are chaotic, because the plan is missing; The insufficient economic and social innovating capacity.

The breaking of the vicious circle of the real disparities has got two complementary solutions: the integral turning to account of the financing afferent to the accession process, and the intensifying of the domestic effort aimed at the achievement of the Romanian modernizing project, especially within its innovating component, encouraged by education / training. A rational adjusting of the expenditure is necessary, which has to aim at the developing of the national infrastructure - both that from the transport field, and, respectively, those from the education, the health, the rural development, and the environment protection fields.

The amplifying of the internal unbalances; The alarming worsening of certain deficits; The structural disparity between the aggregate demand, being in expansion, especially on the

Translated into English by Doina Mesteacn. Vicepresident of the Competition Council.

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Recurgerea la planificarea bugetar multianual i urmrirea unei strategii predeterminate ce pot constitui formule de cretere a eficienei n toate proiectele iniiate att n zona public, ct i n zona privat. Trecerea la ajustarea structural a ofertei, pentru evitarea unor dezechilibre pronunate i gestionarea echilibrat a bugetului ar avea efecte benefice pe termen scurt, dar i n perspectiv. Alturi de aceste soluii operaionale este nevoie de soluii strategice, cum ar fi: profesionalizarea forei de munc (educaia continu lucrtori calificai creterea atractivitii regiunii pentru celelalte firme atragerea altor lucrtori calificai etc.); forarea importurilor de tehnologie nalt, Romnia trebuie s imite n domeniile n care nu poate inova i s inoveze n domeniile n care exist capabiliti (domeniul informaiei, spre exemplu); acordarea de faciliti fiscale firmelor care investesc n cercetare dezvoltare i crearea de parteneriate cu universiti institute de cercetare dezvoltare.

Susinerea dezvoltrii prin fonduri UE, efortul propriu, evitarea riscului de a irosi oportunitile de insider al UE, inclusiv prin buna guvernare, este proba cert a nelegerii interesului naional n spiritul unui pragmatism eficient. n sintez, noiunile cheie pentru etapa socio economic n care se afl Romnia sunt eficiena, competitivitatea i convergena. n funcie de modul eficient n care le operaionalizm depinde succesul economic i social al societii romneti. Ordine i performan, cum ar spune A. Comte, este deviza imperativ a momentului pentru ca Romnia s fie competitiv i stabil, s aib un mediu concurenial, funcional i echilibrat.

Romnia trebuie s mbunteasc stimulentele economice i instituionale, care sunt eseniale pentru dezvoltarea spiritului antreprenorial. Injeciile de lichiditate i stimulii bugetari, formule economice prin care rile dezvoltate ncearc evitarea unei contracii economice de proporii, au produs deja o stabilizare n unele segmente ale economiei. Criza las urme adnci. Cererea i oferta sunt afectate pentru o perioad de timp. Este nevoie de aciuni economice i politice concertate i energice pentru a relansa societatea romneasc n toate segmentele ei.

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Resorting to the multi-annual budgetary planning, and having in view a pre-defined strategy could be suitable solutions for the efficiency increasing in all the projects initiated within the public area, as well as in the private one. The passing to the structural adjusting of the offer, in order to avoid certain marked unbalances, and the well-balanced administering of the budget would have short term and far-reaching beneficial effects. Beside these operational solutions, strategic solutions would be needed, such as: improving of the labor professional competences / abilities (permanent training skilled workers increasing of the region attractiveness for the other companies attracting of other new skilled workers, etc.); intensifying the high-tech imports (Romania has to imitate where it cannot innovate, and to innovate where it has got capabilities for example, the information field); awarding of fiscal facilities to companies investing in the research-development field, and setting up of partnerships universities research and development institutes.

The supporting of the development, through the funds from the European Union, the domestic effort, the avoiding of the risk to squander the opportunities given by the European Union insider status, inclusively the sound governance, is the doubtless proof of the understanding of the national interest in the spirit of an efficacious pragmatism. Synthetically, the key notions for the nowadays Romania's socio-economical stage are the efficiency, the competitiveness, and the convergence. The economic and social progresses of the Romanian society depend on the way to put such notions into operation. Tidiness and performance, as A. Compte would say, should be the motto of the moment, for Romania to become competitive and lasting, and to get a functioning and well-balanced competitive environment.

Romania has to improve the economic and institutional incentives, which are essential for the developing of the entrepreneurial spirit. The liquidity injections and the budgetary incentives, economic solutions by which the developed countries try to avoid an ample depression, have already led to a stabilizing in some regions. The crisis let deep traces. The demand and the offer have been affected for a period of time. Vigorous economic and political actions are necessary, in order to re-launch the Romanian system.

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DREPTUL CONCURENEI I ORGANIZAIILE NONPROFIT N STATELE UNITE ALE AMERICII, UNIUNEA EUROPEAN I GERMANIA4
Nathaniel CORNOIU-JITRAU5
n urm cu trei ani, prestigioasa editur german Peter Lang a publicat teza de doctorat a tinerei cercettoare Cristiana CICORIA. Susinut cu succes n anul precedent, la Institutul pentru Drept i Economie al Universitii din Hamburg, lucrarea a avut drept subiect o tem pe ct de inedit6, pe att de interesant, i anume aplicarea Dreptului concurenei n cazul organizaiilor nonprofit (ONP). Plecnd de la constatarea c sectorul nonprofit joac un rol fundamental n dezvoltarea societii civile, [] organizaiile non-profit reprezentnd o for economic major7, autoarea a analizat sistematic materia relevant, prezentarea fiind limpede i stilul cursiv. Lucrarea este mprit n 6 capitole8, din care primul conine introducerea (p.13-21), al doilea cuprinde o expunere a problematicii concurenei n domeniul nonprofit (p.23-58), al treilea este consacrat analizei legislaiei, jurisprudenei i doctrinei nord-americane relevante (p.59-128), al patrulea este acoperit de studiul Dreptului comunitar aplicabil (p.129-203), al cincilea este dedicat examinrii teoriei i practicii germane incidente (p.205-248), iar ultimul nglobeaz o analiz comparativ a celor trei legislaii abordate nsoit de concluzii (p.249-258). Fr a face exces de erudiie , autoarea i-a documentat n mod temeinic studiul su, utiliznd nu mai puin de 462 de surse bibliografice10, provenite n marea lor majoritate din doctrina economic; printre autorii citai se afl ilutrii: Adam Smith, Gary Becker, Robert H. Bork, Ronald Coase, Friedrich Hayek, Amartya Sen i George Stigler. Desigur, doctrinarii juriti nu au fost ignorai, cei mai importani regsindu-se la loc de cinste pe lista referinelor: Christopher Bellamy, G.D. Child i Vivian Rose, Doris Hildebrand, Alison Jones i Brenda Sufrin, W.E. Kovacic, O.Odudu, E.A. Posner i R.A. Posner. Ipoteza de la care a plecat autoarea n studiul su este c organizaiile nonprofit sunt direct afectate de fenomenul concurenei, att la nivelul cererii, ct i la nivelul ofertei11. Aadar, concurena cu care se confrunt O.N.P .-urile este dubl, fiind att intrasectorial12 (pe piaa bunului produs sau serviciului prestat, fa de agenii economici obinuii), ct i infrasectorial13 (prin raportare la celelalte organizaii necomerciale)14, cele dou forme de competiie nefiind incompatibile15. Esenial ni se pare a fi faptul c n Dreptul concurenei american, comunitar i german nu exist o exceptare a ONP-urilor de la aplicarea regulilor antitrust, ci dimpotriv, acestea sunt tratate ca simpli ageni economici, n pofida statutului lor caritabil16.
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4 Recenzia lucrrii: Dr. Cristiana CICORIA, Nonprofit organizations facing competition. The application of United Nations, European and German Competition Law to not-for-profit entities (Peter Lang, Frankfurt, 2006, 286p.). 5 Inspector de concuren, Direcia Juridic-contencios. 6 C.CICORIA, op.cit., p.18 i nota de subsol nr.18. 7 C.CICORIA, op.cit., p.13. 8 Planul detaliat al lucrrii se gsete la adresa:http://www.agiimc.de/intelligentSEARCH.nsf/alldocs/683CCA10 96AF9235C125715A004816FF/$File/88087291.PDF?OpenElement (accesat pe 26 august 2009).

9 Cele 246 de pagini ale textului propriu-zis al tezei sunt nsoite de 611 note de subsol. 10 Lista lor complet se afl la: C.CICORIA, op.cit., p.259-286. 11 C.CICORIA, op.cit., p.17 i nota de subsol nr.15. 12 C.CICORIA, op.cit., p.41-44. 13 C.CICORIA, op.cit., p.35-41. 14 C.CICORIA, op.cit., p.18. 15 O organizatie nonprofit care s-a confruntat simultan cu concurena intrasectorial i cu cea infrasectorial a fost Crucea Roie American; pentru detalii, a se vedea: C.CICORIA, op.cit., p.44-45 i p.55-56. 16 C.CICORIA, op.cit., p.19.

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COMPETITION LAW AND NONPROFIT ORGANIZATIONS IN THE UNITED STATES OF AMERICA, THE EUROPEAN UNION AND GERMANY17
Nathaniel CORNOIU-JITRAU18
Three years ago, a well-known respected German publishing house has had the excellent idea of printing the first book of the young Italian researcher Cristiana CICORIA. Being the author's PhD thesis successfully defended before the Institute of Law and Economics of the Hamburg University, its subject is a novel19 and very interesting topic, namely the application of Competition Law to nonprofit organizations (ONPs). Starting from the observations that The nonprofit voluntary sector plays a fundamental role in the development of the civil society. and [] nonprofit organizations are a major economic force20, the author has analyzed thoroughly the relevant matter and presented the issues in vivid and a clear style. The book has 6 chapters 21: the first contains the foreword (pp.13-21), the second comprises a presentation of the competition matter in the nonprofit domain (pp.23-58), the third is focused on the analysis of the legislation, the jurisprudence and the relevant NordAmerican doctrine (pp.59-128), the fourth contains the review of the applicable EC Law (pp.129-203), the fifth is dedicated to presenting the relevant German theory and practice (pp.205-248), and the last one includes a comparative analysis of those three legislations, as well as the conclusions (pp.249-258). Without making any excess of erudition22, the author earnestly documented her study by using no more than 462 bibliographic references23, most of them coming from the economic doctrine; among the famous cited authors we found: Adam Smith, Gary Becker, Robert H. Bork, Ronald Coase, Friedrich Hayek, Amartya Sen and George Stigler. Naturally, the jurists were not ignored, the most important of them being included on the list of authorities: Christopher Bellamy, G.D. Child and Vivian Rose, Doris Hildebrand, Alison Jones and Brenda Sufrin, W.E. Kovacic, O. Odudu, E.A. Posner and R.A. Posner. The primary hypothesis of the author is that the nonprofit organizations are directly affected by the competition phenomenon from the demand side, as well as from the supply side 24. As a result, the competition faced by ONP is double: inter-sector competition 25 (on the market of the manufactured goods or the delivered services, in relation with the for-profit undertakings), as well as the infra-sector competition 26 (in relation with the other noncommercial organizations) 27, the two forms of competition not being incompatible. The fact that the US, EC and German Competition Laws do not provide any exemption of the ONPs from the application of the antitrust rules is considered crucial by us; indeed, they are treated as common undertakings, despite their charitable status28.

17 Review of Dr. Cristiana CICORIA, Nonprofit organizations facing competition. The application of United States, European and German Competition Law to not-for-profit entities (Frankfurt: Peter Lang, 2006, 286pp.). The text of the following book review was translated into English by Ioan D. Popa and revised by Nathaniel Cornoiu-Jitrau. 18 Competition inspector, Legal Department. 19 C.CICORIA, op.cit., p.18 and footnote 18; the book's description is available at:http://www.peterlang.com/index.cfm?vID=55164&vLang=E&vHR=1&v UR=2&vUUR=1 (accessed on 26th of August, 2009). 20 C.CICORIA, op.cit., p.13. 21 Its detailed plan could be downloaded at: http://www.agiimc.de/intelligentSEARCH.nsf/alldocs/683CCA1096AF9235C125715A004

816FF/$File/88087291.PDF?OpenElement (accessed on 26th of August, 2009). 22 The 246 pages of the book's main text are accompanied by 611 footnotes. The full list of the footnotes is at: C.CICORIA, op.cit., pp.259-286. 23 C.CICORIA, op.cit., p.17 and footnote 15. 24 C.CICORIA, op.cit., pp.41-44. 25 C.CICORIA, op.cit., pp.35-41. 26 C.CICORIA, op.cit., p.18. 27 A nonprofit organization which has been faced in the same time with intersector and infra-sector competition was the American Red Cross; details could be found at: C. CICORIA, op.cit., pp.44-45 and pp.55-56. 28 C.CICORIA, op.cit., p.19.

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De asemenea, notabil este observaia Dr. Cristiana Cicoria privind fenomenul economic, n general: Esena economiei de pia este efortul concurenial al furnizorilor de a oferi cel mai bun produs i al cumprtorilor de a face achiziia optim29. Obiectivul autoarei a fost dublu, i anume: cercetarea comportamentului ONP-urilor pe o pia concurenial i verificarea aplicabilitii n S.U.A., la nivel comunitar i n Germania a regulilor de concuren n cazul organizaiilor nonprofit30. Din capitolul 2 ne-a reinut atenia analiza efectelor concurenei asupra ONP-urilor31, care include: o teorie a efectelor pozitive ale nelegerilor anticoncureniale ncheiate de organizaiile nonprofit32, un examen succint al efectelor pozitive 33 ale concurenei pentru entitile nonprofit , o expunere a riscurilor i posibilelor efecte negative ale competiiei n cazul ONP-urilor34 i o examinare sumar a problemelor aprute cu ocazia supunerii organizaiilor nonprofit la rigorile Dreptului concurenei35. Cele 70 de pagini ale Capitolului 3 cuprind o cercetare amnunit a legislaiei americane, a practicii administrative i a jurisprudenei relevante, ncepnd cu primul act normativ din lume n materia proteciei liberei concurene [Sherman Act (1890)], care a fost urmat de: Clayton Act (1914), Robinson-Patman Act (1936) i Federal Trade Commission Act (1988). Remarcm faptul c prima hotrre a Curii Supreme a Statelor Unite ale Americii n care s-a fcut aplicarea regulilor antitrust n cazul unei organizaii nonprofit a fost pronunat n 1975 [Goldfarb contra Baroului Statului Virginia], ulterior 36 jurisprudena fiind constant n acelai sens , cazuri relevante fiind: National Collegiate Athletic Association (1984) 37 , Statele Unite contra Universitii Brown (1993)38 i Federal Trade Commission contra Butter wor th Health Corporation (1996)39.

Capitolul 4 este cel mai ntins dintre cele ase ale volumului i conine o examinare sistematic a Dreptului comunitar al concurenei aplicabil ONP-urilor. Plecnd de la ipoteza c entitile nonprofit sunt supuse reglementrilor antitrust numai dac particip ca ageni economici pe Piaa Comun40, autoarea volumului recenzat a constatat c, n lipsa unor norme speciale legiferate la nivel comunitar41, Curtea European de Justiie a hotrt nc din 1980, n Dosarele conexate nr.C-209/1978 - C215/1978 i C-218/1978 [Heintz Van Landewyck SARL i alii contra Comisiei Europene], faptul c organizaiile nonprofit care desfoar activiti economice sunt ntreprinderi, n nelesul art.81 al Tratatului de la Roma privind instituirea Comunitii Economice Europene42. Dintre domeniile n care activeaz ONP-urile crora n perioada 1981-2002 li s-a aplicat Dreptul comunitar amintim: societile de asigurri mutuale, asociaiile profesionale, asociaiile de firme care opereaz pe aceiai pia, cluburile sportive, asociaiile de transmisiuni televizate comerciale43 etc. Dintre cazurile analizate n detaliu menionm: FEDETAB (1980), NAWEVAANSEAU (1982), P & I (1999) i Ambulanz Glckner (2001). Al treilea termen al studiului comparativ ntreprins de Dr. Cristiana CICORIA este Dreptul german al concurenei aplicabil organizaiilor nonprofit. Cel mai dezvoltat sistem de protecie a liberei concurene din Europa a fost inaugurat n 1945, la 44 iniiativa Puterilor Aliate , fiind armonizat cu 45 normele comunitare n 1958 i perfecionat 46 ulterior de apte ori, ultima dat n 2005 .

C.CICORIA, op.cit., p.45. C.CICORIA, op.cit., p.20. 31 C.CICORIA, op.cit., p.45 i urm. 32 C.CICORIA, op.cit., p.47-48. 33 C.CICORIA, op.cit., p.49-51. 34 C.CICORIA, op.cit., p.51-55. 35 C.CICORIA, op.cit., p.56-58. 36 C.CICORIA, op.cit., p.77. 37 Expunerea speei se gsete la: C.CICORIA, op.cit., p.83-89. 38 Pentru detalii, a se vedea: C.CICORIA, op.cit., p.89-95. 39 Pentru dezvoltri, a se consulta: C.CICORIA, op.cit., p.104-107. 40 C.CICORIA, op.cit., p.166 i nota de subsol nr.450, precum i p.170.
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C.CICORIA, op.cit., p.155. C.CICORIA, op.cit., p.168 i nota de subsol nr.455. C.CICORIA, op.cit., p.170, notele de subsol nr.463-465 i p.171, nota de subsol nr.466. 44 C.CICORIA, op.cit., p.211. 45 Alison JONES, Brenda SUFRIN, EC Competition Law (ediia a treia, Oxford University Press, Oxford, 2007, p.36, nota de subsol nr.107). 46 Pentru detalii, a se vedea: Dr. Wolfgang WURMNEST, A new era for private antitrust litigation in Germany? A critical appraisal of the modernized Law against restraints of competition (German Law Journal, vol.6, nr.8/2005, p.1173-1189); eseul se gsete la adresa: http://www.germanlawjournal.com/pdf/V ol06No08/PDF_Vol_06_No_08_117 3-1190_Developments_Wurmnest.pdf (accesat pe 26 august 2009).
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In the same time, a very important notice made by Dr. Cristiana Cicoria concerns the economic phenomenon, in general: The essence of the market place is a competitive effort of suppliers to make the best offer product and of buyers to make the best purchase47. The objective of the author was double, namely to study the behavior of the ONPs on competitive markets and to verify the application of the competition rules to nonprofit organizations in U.S.A., at the EC level and in Germany48. The second chapter brought into our attention the analysis of the competition effects over the ONPs49, including: a theory of the positive effects of the anticompetitive agreements concluded by the nonprofit organizations50, a brief examination of the positive effects of competition for the charitable entities51, a presentation of the risks and of the potential negative effects of competition in the ONPs cases52, and a rapid examination of the issues related to the observance of the Competition Law by the nonprofit organizations53. The 70 pages of the Chapter 3 include a meticulous research of the US legislation, of the administrative practice and of the relevant judicial precedents, starting with the first law in the world enacted in the field of free competition protection [Sherman Act (1890)], followed by: Clayton Act (1914), Robinson-Patman Act (1936) and Federal Trade Commission Act (1988). We have noted that the first decision of the US Supreme Court in a case involving the application of the antitrust rules to a nonprofit organization was issued in 1975 [Goldfarb v. The Virginia State Bar], which was followed by a very solid case law54, the relevant cases being: National Collegiate Athletic Association (1984)55, United States v. Brown University (1993)56 and Federal Trade Commission v. Butterworth Health Corporation (1996)57.

Chapter 4 is the most developed of all the book's parts and contains a systematic analysis of EC Competition Law applicable to ONPs. Starting from the hypothesis that nonprofit entities fall under the competition rules only if they are participating on the Common Market as undertakings58, and after a sound research, Dr. C.Cicoria reached the conclusion that, while special legal norms are absent at the Community level59, the European Court of Justice decided for the first time in 1980, in the Joint Cases nos.C-209 to C-215/1978 and C-218/1978 [Heintz Van Landewyck SARL and others v. European Commission], that nonprofit organizations carrying out economic activities are undertakings within the meaning of Art.81 EC Treaty60. Among the charitable fields of activity in which the EC Competition Law was applied during 1981-2002 there are: mutual insurers, professional associations, associations of firms operating on the same market, sport clubs, trade broadcasting associations61 etc. In the same time, we point out that the following cases were analyzed thoroughly in the same book: FEDETAB (1980), NAWEVA-ANSEAU (1982), P & I (1999) and Ambulanz Glckner (2001). The third element of the comparative study carried out by Dr. Cristiana CICORIA is the German Competition Law applicable to nonprofit organizations. The most developed European system of free competition protection was inaugurated in 1945, at the initiative of the Allied Powers62; it was harmonized with the EEC norms in 195863 and has been improved afterwards continuously, the last time in 200564.

C.CICORIA, op.cit., p.45. C. CICORIA, op.cit., p.20. 49 C. CICORIA, op.cit., pp.45-56. 50 C. CICORIA, op.cit., pp.47-48. 51 C. CICORIA, op.cit., pp.49-51. 52 C. CICORIA, op.cit., pp.51-55. 53 C. CICORIA, op.cit., pp.56-58. 54 C. CICORIA, op.cit., p.77. 55 The case is presented at: C. CICORIA, op.cit., pp.83-89. 56 Details could be found at : C. CICORIA, op.cit., pp.89-95. 57 For a detailed presentation see: C. CICORIA, op.cit., pp.104-107. 58 C. CICORIA, op.cit., p.166 and footnote 450, as well as p.170. 59 C. CICORIA, op.cit., p.155.
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C. CICORIA, op.cit., p.168 and footnote 455. C. CICORIA, op.cit., p.170, footnotes 463-465 and p.171, footnote 466. 62 C. CICORIA, op.cit., p.211. 63 Alison JONES, Brenda SUFRIN, EC Competition Law (the third edition, Oxford University Press, Oxford, 2007, p.36, footnote 107). 64 A detailed presentation was made by: Dr. Wolfgang WURMNEST, A new era for private antitrust litigation in Germany? A critical appraisal of the modernized Law against restraints of competition (German Law Journal, vol.6, no.8/2005, pp.1173-1189); the essay could be found at: http://www.germanlawjournal.com/pdf/Vol06No08/PDF_Vol_06_No_ 08_1173-1190_Developments_Wurmnest.pdf (accessed on 26th of August, 2009).
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n afar de o expunere amnunit a normelor juridice n vigoare, autoarea a prezentat lapidar i unele hotrri relevante ale instanelor germane. Astfel, n materia nelegerilor anticoncureniale pe orizontal, cele mai importante cazuri au fost legate de controlul judectoresc exercitat de Curtea Suprem Federal a Germaniei asupra contractelor semnate de Federaia German de Fotbal cu ocazia comercializrii drepturilor de televizare a meciurilor din Liga Campionilor i cupa UEFA, ocazie cu care s-a stabilit nclcarea regulilor de concuren65. n ceea ce privete restriciile verticale, specialista italian a ales Dosarul Berliner Musikschule (1979), iar abuzul de poziie dominant a fost ilustrat prin prezentarea succint a unor dosare precum:Universittssportclub (1968), Volksbhne II (1970) Inter-MailandSpiel(1987), Krakentransporte (1987) i Privater Pflegedienst (2001). La sfritul tezei sale, autoarea a ajuns la concluzia c organizaiile nonprofit sunt supuse normelor privind protecia liberei concurene att n Statele Unite ale Americii, ct i la nivel comunitar, precum i n Germania66. n opinia noastr, lucrarea recenzat este binevenit n doctrina de specialitate, fiind o ilustrare a modului exemplar n care studiul economiei aplicate poate servi dublului scop al nelegerii mai bune i aplicrii mai eficiente a Dreptului concurenei67.

65 Pentru dezvoltri, a se vedea: C.CICORIA, op.cit., p.229 i nota de subsol nr.581, p.230 i nota de subsol nr.582. 66 C.CICORIA, op.cit., p.249. 67 Pentru o introducere n acest domeniu, a se vedea: Ernest GELLHORN, William E. KOVACIC, Stephen CALKINS (eds.), Antitrust Law & Economics in a nutshell (ediia a cincea revzut i adugit, Thomson/West, St.Paul,

2004, XLVII+617p.). Pentru dezvoltri, a se vedea: Abel M. MATEUS, Teresa MOREIRA (eds.), Competition Law and Economics. Advances in competition policy and antitrust enforcement (Kluwer Law International, Alphen aan den Rijn, 2007, IX+379p.); Einer ELHAUGE, Damien GERADIN, Global Antitrust Law and Economics (Foundation Press, New York, 2007, XXXV+1.231p.). n prezent, lucrarea fundamental este teza de doctorat a lui Ioannis LIANOS, La transformation du Droit de la concurrence par le recours l'analyse conomique (Bruylant, Bruxelles, 2007, XIX+1.698p.).

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Besides a thorough examination of the legal norms in force, the author has briefly presented certain relevant decisions of the German courts. As a result, in the field of horizontal anticompetitive agreements, the most important cases are related to the court's control performed by the Germany's Supreme Federal Court over the contracts signed by the German Football Federation in connection with the commercialization of the TV broadcasting rights of the matches played in the Champions League and UEFA Cup, when the infringement of competition rules was established68. In respect to the vertical restraints, the Italian expert has chosen the Berliner Musikschule case (1979), and the abuse of dominant position was presented through succinct presentation of certain cases such as :Universittssportclub (1968), Volksbhne II (1970) Inter-Mailand-Spiel(1987), Krakentransporte (1987) and Privater Pflegedienst (2001). At the end of her thesis, the author reached the conclusion that nonprofit organizations are falling under the norms on free competition protection in the United States of America, at the EC level, as well as in Germany69. In our opinion, Dr. Cristiana Cicoria must be congratulated for the results of and her book welcomed, as long as she brilliantly has illustrated how the research of applied Economics could support the double aim of a better understanding and a smarter enforcement of the relevant Competition Law70.

68 For details see: C. CICORIA, op.cit., p.229 and footnote 581, p.230 and footnote 582. 69 C. CICORIA, op.cit., p.249. 70 An useful introduction in this field could be found at: Ernest GELLHORN, William E. KOVACIC, Stephen CALKINS (eds.), Antitrust Law & Economics in a nutshell (5th revised edition, St. Paul: Thomson/West, 2004, xlvii-617pp.). For a detailed presentation see: Abel M. MATEUS, Teresa MOREIRA (eds.),

Competition Law and Economics. Advances in competition policy and antitrust enforcement (Alphen aan den Rijn: Kluwer Law International, 2007, ix-379pp.); Einer ELHAUGE, Damien GERADIN, Global Antitrust Law and Economics (New York: Foundation Press, 2007, xxxv-1.231pp.). In this moment, the fundamental study is Ioannis LIANOS' PhD thesis: La transformation du Droit de la concurrence par le recours l'analyse conomique (Bruxelles: Bruylant, 2007, xix-1.698pp.).

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AUTORITATEA DE VALORIFICARE A ACTIVELOR STATULUI I CONSILIUL CONCURENEI UN LUNG PROCES DE COLABORARE ACTIV N DOMENIUL AJUTORULUI DE STAT71
Mircea URSACHE72
Rezumat Activitatea Autoritii pentru Valorificarea Activelor Statului (AVAS), att n nume propriu ct i prin intermediul societilor comerciale cu capital majoritar de stat, se intersecteaz adesea cu experii Consiliului Concurenei, n mod special dup decembrie 2001. Dei, actul normativ privind ajutorul de stat a aprut nc din anul 1999, principala confruntare dintre experii celor dou instituii s-a realizat odat cu promovarea Legii nr.137/2002 privind unele msuri pentru accelerarea privatizrii, care a introdus prevederea prin care prin derogare de la prevederile Legii nr. 143/1999 privind ajutorul de stat, Consiliul Concurenei va emite decizia legal n procedur de urgen, astfel nct s poat fi respectat termenul de plat prevzut n contract, ct i a unor acte normative speciale pentru privatizarea unor societi comerciale. Cuvinte cheie: privatizare, ajutor de stat, colaborare. Procesul de privatizare derulat n perioada decembrie 2001- martie 2005 a fost nsoit de acordarea unor faciliti la plata obligaiilor restante, att ctre bugetul consolidat al statului, ct i ctre AVAS sau furnizorii de utiliti, faciliti prevzute att de acte normative cu caracter general, ct i de acte normative speciale. Aceste faciliti au fost notificate Consiliului Concurenei de ctre AVAS, n numele tuturor furnizorilor de ajutor de stat, n vederea analizrii i autorizrii, fie ca ajutoare de stat de restructurare, fie ca ajutoare de stat pentru dezvoltarea unor programe de investiii. Urmare documentaiilor depuse de AVAS, Consiliul Concurenei a analizat i a emis un numr de 80 Decizii pentru autorizarea unor ajutoare de stat individuale de restructurare, 3 decizii de
71 Discursul Preedintelui AVAS la conferina de lansare a Programului ReNAS din data de 30.06.2009. 72 Preedinte al Autoritii pentru Valorificarea Activelor Statului.

autorizare a unor scheme de ajutor de stat de restructurare i o decizie de autorizare a unei scheme de ajutor de stat pentru realizarea de investiii. Pentru deciziile individuale privind ajutorul de stat pentru restructurare Consiliul Concurenei a autorizat un volum total al ajutorului de stat n sum de 2.387.359.178 lei, n cadrul unor programe de msuri asumate de societile comerciale privatizate i cumprtorii pachetelor de aciuni, care nsumeaz o valoare total de 6.541.851.759 lei (de circa 3 ori mai mare dect volumul ajutorului de stat).

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THE AUTHORITY FOR STATE ASSETS RECOVERY AND THE COMPETITION COUNCIL A LONG AND ACTIVE COOPERATION PROCESS IN THE FIELD OF STATE AID73
Mircea URSACHE74
Abstract75 The activity of the Authority for State Assets Recovery (hereinafter AVAS), carried out both on its behalf and by the companies in which the state holds controlling interest capital, was often and especially after December 2001 - intersecting with that of the Competition Council experts. Although the normative act on State aid has been issued in 1999, the main confrontation between the experts in our institutions has been carried out since the promoting both of the Law no. 137/2002 concerning certain measures taken for the privatization speed, that introduced the following stipulation by derogation from the provisions of the Law no. 143/1999 on State aid, the Competition Council should issue the legal decision by emergency procedure, so that the payment term stipulated into the contract to be observed, and of some special normative acts aimed at the privatization of certain companies. Keywords: privatization, state aid, cooperation. The privatization process carried on over the period December 2001 March 2005 has been accompanied by the awarding of certain facilities for the outstanding duties payment, both towards the State consolidated budget, and towards AVAS or towards the suppliers of utilities, such facilities being stipulated either in general normative acts, or in special normative acts. Such facilities have been notified, by the AVAS, on the behalf of all State aid grantors, to the Competition Council, with a view to be analyzed and authorized, either as restructuring State aids, or as State aids aimed at the developing of certain investment programs. The Competition Council analyzed the reference materials submitted by the AVAS, and issued a number of 80 decisions aimed at the authorizing of
73 Speech of the President of the Authority for State Assets Recovery (AVAS) within the ReNAS launching Conference from 30th June 2009. 74 President of the Authority for State Assets Recovery (AVAS). 75 Translated into English by Doina Mesteacn.

certain restructuring individual aids, 3 decisions for the authorizing of certain restructuring State aid schemes, and one decision aiming the authorizing of a State aid scheme for investment carrying out. As concerns the individual decisions regarding the restructuring State aid, the Competition Council authorized a total volume of State aid amounting at 2,387,359,178 lei, within certain programs containing measures assumed by the privatized companies and by the buyers of the stock packages (these packages amounting a total value of 6,541,851,759 lei (three times higher than the State aid volume).

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Costul msurilor din programele de restructurare este structurat dup cum urmeaz: msuri de reorganizare a societii comerciale n proporie de 25,79% din costul total al msurilor; msuri de retehnologizare a societii comerciale n proporie de 40,09% din costul total al msurilor; msuri de restructurare de mediu a societii comerciale n proporie de 9,32% din costul total al msurilor; msuri financiare n proporie de 24,08% din costul total al msurilor, nelund n considerare ajutorul de stat.

Procesul de autorizare a fost ngreunat i de faptul c regulamentele emise de Consiliului Concurenei s-au modificat i s-au adaptat regulilor comunitare, cum s-ar spune n timpul jocului, dar i de faptul c n procesul de acordare a ajutoarelor de stat au fost implicate mai multe instituii, n timp ce structura instituional s-a schimbat frecvent (s-a desfiinat Oficiului Concurenei, s-au preluat bugetul de omaj, bugetul de asigurri sociale i parial bugetul pentru asigurri sociale de sntate, de ctre Ministerul Finanelor Publice i respectiv parial de AVAS). Mai mult dect att, importana strngerii ntr-un timp ct mai scurt i ct mai corect din punct de vedere al ncadrrii n criteriile privind ajutorul de stat a informaiilor necesare emiterii deciziilor de autorizare a condus la nfiinarea Comitetului Interministerial n domeniul ajutorului de stat, sub coordonarea Consiliului Concurenei, care a permis schimbul de idei i opinii, n timp real, ntre reprezentanii tuturor instituiilor implicate i dezbaterea unor spee, care s permit nelegerea modului de aplicarea a principiilor ajutorului de stat. Ulterior, a fost nfiinat prin Hotrre de Guvern nr. 495 din 1 iunie 2005, Comitetul interministerial responsabil cu ndeplinirea angajamentelor asumate n cadrul negocierilor cu Uniunea European privind Capitolul 6 "Concuren" sub preedenia AVAS, care a permis informarea membrilor executivului cu principalele procese de privatizare i elementele de ajutor de stat care le nsoesc.

Din bugetele totale ale celor 3 scheme de ajutor de stat pentru restructurare autorizate, n sum de 862.300.000 lei, AVAS a efectuat alocri de ajutor de stat n valoare de 149.523.212 lei pentru un numr de 26 de ageni economici. Volumul total al ajutoarelor de stat pentru investiii autorizat de Consiliul Concurenei pentru societile din portofoliul AVAS este n valoare de 69.973.800 lei la un volum total de investiii asumate de 158.282.268 lei. Aadar, dintr-un volum total al ajutoarelor de stat notifcate de ctre AVAS i autorizate de Consiliul Concurenei de 932.273.800 lei, au fost efectuate alocri de ajutor de stat n valoare 219.497.012 lei, fiind sumate de ctre agenii economici beneficiari de ajutor de stat msuri de restructurare/planuri investiionale n valoare de 6.700.134.027 lei (subl.ns.) Toate acestea autorizri au fost posibile numai datorit colaborrii dintre specialitii AVAS, ai Consiliului Concurenei i ai beneficiarilor de ajutor de stat, respectiv societile comerciale i cumprtorii pachetelor majoritare i au necesitat un efort susinut pentru ncadrarea n timpul alocat finalizrii negocierilor cu Comisia European, pe capitolul Concuren.

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The structure of the total cost afferent to the measures within the restructuring programs was as follows: measures aimed at the company restructuring with a percentage of about 25.79% of the total cost of measures; measures for the company renewing having a percentage of about 40.09% of the total cost of measures; measures aimed at the company restructuring related to the environment protection requirements holding a percentage of about 9.32% of the total cost afferent to the measures; financial measures with a percentage of about 24.08% of the total measures cost, without taking into consideration the State aid.

stakes), and, on the other hand, that constant efforts were necessary in this respect, because of the requirements related to the deadline established for the finalizing of the negotiations with the European Union on the Competition Policy chapter. Other factors with burdening effects on the authorizing process were the following: the amending of the Competition Council regulations has been done in passing, in order to adapt them to the Community rules; within the State aid granting process were involved many institutions, while the institutional structure was frequently changing (eliminating of the Competition Office; taking over of the unemployment budget, of the social insurances budget, and partially of the social health insurances budget, by the Ministry of Public Finance, and, respectively, partially, by the AVAS). As the information aimed at the issuing of the authorizing decisions had to be gathered as quickly as possible, and fully complying with State aid criteria, a new body, able to ensure the accomplishment of such requirements, has been established under the Romanian Competition Council (RCC) coordination. Named The Interministerial Committee in the State aid field, this body allowed to carry out, in due time, exchanges of thoughts and opinions among the representatives of all the involved institutions, as well as cases debates aiming to facilitate the understanding of the way of State aid principles enforcing. Subsequently, by the Government Decision no. 495/01.06.2005, another Inter-ministerial Committee has been established, being entrusted with the fulfillment of the commitments assumed within the negotiations with the European Union regarding the Chapter 6 Competition Policy. Placed under the AVAS presidency, such committee was ensuring the informing of the Government members on the main privatization processes and on their afferent State aid components.

From the total budgets of the 3 authorized State aid schemes for restructuring, which were amounting 862,300,000 lei, AVAS made State aid allocations of 149,523,212 lei, dedicated to a number of 26 undertakings. The total volume of the investment State aids authorized by the Competition Council for the companies in the AVAS' portfolio was amounting at 69,973,800 lei, such aids being related to the assumed investment having a total volume of 158,282,268 lei. Therefore, from a total volume of State aids notified by the AVAS and authorized by the RCC amounting at 932,273,800 lei, AVAS made State aid allocations of 219,497,012 lei, while the restructuring measures / investment plans engaged by the beneficiary undertakings of such State aid attained a value of 6,700,134,027 lei. (our underlining) It should be mentioned, on the one hand, that the carrying out of all these authorizing actions was possible only due to the collaboration among the experts in the AVAS, in the Competition Council, and in the State aid beneficiaries (respectively the companies and the purchasers of the majority share

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AVAS a primit pentru notificrile ntocmite doar 4 decizii negative, dar trebuie s menionm faptul c toate eforturile depuse nu au putut mpiedica ca la sfritul anului 2006 s existe cazuri n care, pentru anumite societi comerciale privatizate de ctre AVAS conform legislaiei precizate mai sus, nu s-au emis decizii de ctre Consiliul Concurenei, fapt care a avut repercursiuni n procesul de aplicare a prevederilor legale privind acordarea de faciliti i creaz dificulti n nchiderea monitorizrilor postprivatizare. Trebuie, totui, reamintit c exist circa 20.000 de procese privind privatizrile din ultimii 14 ani. * * * Dup data de 01.01.2007 odat cu aderarea Romniei la Uniunea European, a devenit direct aplicabil legislaia comunitar n domeniul ajutorului de stat, Comisia European fiind singura instituie cu atribuii n autorizarea ajutoarelor de stat n rile membre ale Uniunii. Este de menionat faptul c, ncepnd cu aceeai dat, a avut loc o schimbare major n abordarea privatizrii n Romnia, pe de-o parte datorit faptului c n procesul de ntocmire a actelor normative care prevd elemente de ajutor de stat, ct i n acordarea acestora, Consiliul Concurenei a participat activ alturi de AVAS, la identificare modalitilor optime de abordare a regulamentelor europene i de susinere a soluiilor propuse. Important de precizat este faptul c de aceast data furnizorul de ajutor de stat i Consiliul Concurenei au avut posibilitatea s colaboreze i s prezinte mpreun Comisiei Europene soluiile gsite pentru sprijinirea proceselor de valorificate a activelor statului iniiate de AVAS.

Mecanismul de precosultare iniiat n anul 2008, a permis informarea Comisiei Europene nc de la nceputul procesului de ntocmire a actelor normative sau nainte de demararea procesului de privatizare, astfel nct s se evite aplicarea procedurilor speciale, de genul celor derulate pentru Automobile Craiova sau Tractorul, unde din lipsa informaiilor de la surs, au fost deschise investigaii. Trebuie amintit colaborarea fructoas pe care instituiile noastre au avut-o pentru finalizarea investigaiilor deschise de ctre Comisia European, una pentru derularea procesului de privatizare a societii comerciale Automobile Craiova i pentru procesul de lichidare voluntar a societii comerciale TRACTORUL S.A, precum i furnizarea de informaii solicitate de experii europeni ntr-o alt investigaie deschis, pentru msurile de sprijin financiar de care a beneficiat societatea comercial Arcelor Mittal Roman. Odat cu aderarea, ne-am confruntat i cu o serie de plngeri la Comisia European asupra unor posibile ajutoare de stat ilegale acordate de statul romn ctre societatea comercial OLTCHIM S.A. Ramnicu Valcea i societatea comercial S.C. CHIMCOMPLEX S.A. Borzesti, pentru care experii AVAS mpreun cu cei ai Consiliului Concurenei au depus eforturi comune pentru susinerea opiniilor favorabile implementrii msurilor de ajutor de stat. n etapa actual, cele dou instituii sunt implicate n activitati privind sprijinirea agenilor economici din portofoliu in vederea depirii perioadei de criz economic financiar.

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Although, among the decisions issued for the AVAS' notifications, only 4 decisions were negative ones, and despite of all the endeavors made with a view to obtain authorizing decisions, by the end of the year 2006, certain cases of companies privatized by the AVAS under the above mentioned legislation remained without decisions issued by the Competition Council; such situation had repercussions on the process aiming the enforcing of the legal provisions concerning the granting of facilities, and created difficulties as concerns the closing of the post-privatization monitoring. However, it is to be mentioned that a number of 20 0000 lawsuits afferent to the privatizations carried out during the last 14 years are pending. * * * Since the Romania's accession to the European Union, on the 1st of January 2007, the community legislation in the State aid field became directly applicable in our country, the European Commission being the single institution empowered to authorize State aids in all the Member States of the European Union. It should also be mentioned that, as from the same date, a major changing took place as concerns the approach of the privatization in Romania, due to the active involvement of the RCC both in the process of drawing up of the normative acts stipulating for State aid components, and in the State aid awarding; the Competition Council came near the AVAS and they worked together in order to identify the optimal modalities to tackle the European regulations and to support the proposed solutions. In this respect, it should be emphasized that the AVAS, as State aid grantor, and the Competition Council, as national competition authority, took the opportunity to co-operate in order to submit together, to the European Commission, the solutions jointly agreed upon for the encouraging of the processes aiming the State assets recovery, initiated by the AVAS.

The pre-consultation mechanism, initiated in 2008, allowed the European Commission to be informed, from the very beginning of the process aimed at the working out of the normative acts, or before the starting of the privatization process, so that enforcing of some special procedures (such as those carried on for the companies Automobile Craiova and Tractorul, wherein investigations have been opened, by the European Commission, because of the lack of information got from the source) to be avoided. In this context, it should be mentioned the fruitful co-operation of our institutions, carried out, on the one hand, for the finalizing of two investigations opened by the European Commission (one of them for the carrying on of the privatization process of the company Automobile Craiova, and the other for the process of voluntary clearing off of the company Tractorul SA), and, on the other hand, for the supplying of information requested by the European experts within another investigation opened by the European Commission, on the financial supporting measures awarded to the company Arcelor Mittal Roman. Since the accession, we faced also a series of complaints, submitted to the European Commission, on certain possible unlawful State aids granted by the Romanian State towards two companies (Oltchim SA Rmnicu Vlcea, and SC Chimcomplex SA Borzeti), both cases being tackled together by the AVAS and the RCC experts, which made joint endeavors aimed at the supporting of favorable opinions on the enforcing of such State aid measures. At the present stage, the two institutions are involved in activities aiming the supporting of undertakings in the AVAS' portfolio in order to surpass the economic-financial crisis period.

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Astfel n cadrul AVAS este n curs de finalizare pachetul de msuri pe care AVAS intenioneaz s-l promoveze, i care cuprinde att iniierea unor proiecte legislative, ct i realizarea unor scheme de ajutor de stat pentru punerea n aplicare a unor prevederi legale n vigoare. n continuare sunt prezentate succint proiectele AVAS, realizate n colaborare cu experii Consiliului Concurenei: 1. n Monitorul Oficial din 10 decembrie 2008 a fost publicat Ordonana de urgen a Guvernului nr. 206/2008 privind msurile de sprijin financiar acordat de AVAS agenilor economici din portofoliu, n vederea depirii crizei economice financiare mondiale, care presupune acordarea unor ajutoare de stat n cadrul unei scheme comune AVAS, Ministerul Economiei si a unor ajutoare individuale care urmeaz a fi notificate individual la Comisia European. Actul normativ va fi urmat de 2 hotrri de guvern : Primul act normativ se refer la hotrrea de guvern pentru instituirea unui sistem de ajutor de stat privind salvarea agenlor economici din portofoliul Autoritatii pentru Valorificarea Activelor Statului i al Ministerului Economiei, n vederea depirii efectelor crizei economico financiare mondiale - autorizat de Comisia European;

2. Schema de ajutor de minimis acordat societilor comerciale din portofoliul AVAS n vederea maximizrii recuperrii creanelor preluate de AVAS Schema are ca baz legal art.12, lit. f) din Ordonana de Urgen nr. 51/1998, cu modificrile i completrile ulterioare. Msurile de ajutor de stat se adreseaz societilor comerciale care solicit ealonarea datoriilor preluate de ctre Autoritatea pentru Valorificarea Activelor Statului i constau din renunarea statului la dobnda aferent pe perioada de ealonare a creanelor fiscale/comerciale/bancare preluate prin acte normative de ctre AVAS. Msura nu necesit autorizare, schema a fost avizat de Consiliul Concurenei i va fi implementat ncepnd din prima decad a lunii iulie 2009. 3. Schema de ajutor de stat acordat n vederea maximizrii recuperrii creanelor preluate de A.V.A.S. la societile comerciale din portofoliul AVAS care presteaz servicii de interes economic general Alocrile de ajutor de stat ce vor fi acordate n cadrul prezentei scheme constau n compensarea costurilor financiare ale ealonrii la plat a debitelor preluate de AVAS n baza diferitelor acte normative la societile comerciale crora li s-a ncredinat prestarea de servicii de interes economic general, respectiv producerea, transportul, distribuia i furnizarea energiei termice n sistem centralizat precum i gospodrirea resurselor de ap, captarea, aduciunea i tratarea apei reci.

A.

B. Al doilea act normativ se refer la hotrrea de guvern pentru instituirea unui sistem de ajutor de stat privind restructurarea agenlor economici din portofoliul Autoritatii pentru Valorificarea Activelor Statului i al Ministerului Economiei, n vederea depirii efectelor crizei economico financiare mondiale - aflat n procedura de autorizare la Comsia European.

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In this respect, it is to be mentioned that AVAS is finalizing a package of measures intended to be promoted, which includes both the initiating of certain normative drafts, and the drawing up of some State aid schemes aimed at the implementing of certain in force legal provisions. We briefly present, further on, the AVAS drafts, worked out together with the Competition Council experts: 1. The Government Emergency Ordinance (GEO) no. 206/2008 concerning the financial supporting measures awarded by AVAS to undertakings in its portfolio, in order to surpass the world economicfinancial crisis (published in the Official Gazette on 10th of December 2008) stipulated both the granting of certain State aid within a joint scheme of the AVAS and of the Ministry of Economy, and the awarding of certain individual aids intended to be individually notified to the European Commission. The normative act should be carried on by 2 Government Decisions (GD), as follows: The first normative act refers to the Government Decision aimed at the establishing of a State aid system concerning the rescue of undertakings in the AVAS' portfolio, as well as in the portfolio of the Ministry of Economy, in order to outrun the effects of the world economic-financial crisis already authorized by the European Commission; The second normative act is referring to the Government Decision aimed at the establishing of a State aid system concerning the restructuring of undertakings in the AVAS' portfolio, as well as in the portfolio of the Ministry of Economy, in order to surpass the effects of the world economic-financial crisis under authorizing procedure within the European Commission.

2.

The scheme of the de minimis aid granted to the companies in the AVAS' portfolio, in order to maximize the recovery of the debts taken over by AVAS The scheme has as legal basis the article 12 (f) in the GEO no. 51/1998, with subsequent amendments and completions. The State aid measures are addressed to those companies which request the phasing of the debts taken over by the AVAS, and consist in renunciation by the State to the interest afferent to the p h a s i n g p e r i o d f o r t h e fiscal/commercial/banking debts taken over by AVAS, on the basis of normative acts. This measure needs no authorization; the scheme has been advised by the Competition Council and shall be implemented as from the first decade of July 2009.

3. The Scheme of State aid awarded with a view to maximize the recovery of the debts taken over by AVAS at the companies in the AVAS' portfolio which are performing services of general economic interest The State aid allocations which should be granted within such scheme consist in compensating of the financial costs afferent to the phasing of the payment for the debts taken over by AVAS, through different normative acts, at the companies entrusted with the performing of services of general economic interest (namely the producing, transport, distribution, and supplying of thermal energy, through a centralized system, as well as the administering of water resources, and the drinking water collecting , supply and treatment).

A.

B.

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Msurile de ajutor de stat se vor acorda n baza legal a art.12, lit. f) din Ordonana de Urgen nr. 51/1998, cu modificrile i completrile ulterioare. Msura nu necesit autorizare, schema a fost avizat de Consiliul Concurenei i va fi implementat ncepnd din prima decad a lunii iulie. 4. Schema de ajutor de minimis acordat agenilor economici din portofoliul AVAS n vederea recuperrii creanelor preluate Schema are ca baz legal art. 421, din Ordonana de Urgen nr. 51/1998, cu modificrile i completrile ulterioare. Msurile de ajutor de stat se adreseaz agenilor economici care solicit suspendarea temporar, total sau parial a executrii silite prin poprirea conturilor bancare. Suspendarea executrii silite se face numai dup asumarea de ctre debitor a plii datoriei ntr-o perioad scurt de timp. Proiectul schemei se afl n procedura de consultare i avizare de ctre Consiliului Concurenei n vederea finalizrii i punerii n aplicare. 5. Schema temporar de ajutor de stat acordat agenilor economici din portofoliul AVAS n vederea recuperrii creanelor preluate. Schema are ca baz legal art. 421, din Ordonana de Urgen nr. 51/1998, cu modificrile i completrile ulterioare. Msurile de ajutor de stat se adreseaz agenilor economici care solicit suspendarea temporar, total sau parial a executrii silite prin poprirea conturilor bancare. Proiectul schemei urmeaz a fi completat cu observaiile formulate de ctre experii Consiliului Concurenei n vederea finalizrii i transmiterii ctre Comisia European prin intermediul Consiliului Concurenei, n cadrul procedurii de prenotificare.

ntorcndu-ne la scopul ntlnirii noastre de astzi, trebuie salutat iniiativa Consiliului Concurenei de a nfiina Reeaua Naional de Ajutor de Stat, prin care se creaz premisele unei mai bune cunoateri a legislaiei comunitare, accesul la opiniile i prerile specialitilor din alte instituii cu privire la propunerile formulate de AVAS, gsind i rspunsuri la unele ntrebri cu care ne confruntm n procesul de decizie privind msurile de sprijin financiar al societilor comerciale care urmeaz s fie privatizate i n continuare.

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The State aid measures should be granted under the article 12 (f) in the GEO no. 51/1998, with subsequent amendments and completions (which represents the legal basis of the awarding of such State aid). The measure needs no authorization; the scheme has been advised by the Competition Council and shall be implemented as from the first decade of July 2009. 4. The Scheme of the de minimis aid granted to undertakings in the AVAS' portfolio with a view to recover the debts taken over by AVAS This scheme has as legal basis the article 421 in the GEO no. 51/1998, with subsequent amendments and completions. The State aid measures are addressed to the undertakings which request the total or partial temporary suspending of the forcible execution through the banking accounts stopping. The suspending of the forcible execution should be done only after the debtor had engaged the debt payment within a short period of time. The scheme draft is under consulting and advising procedure within the RCC, in order to be subsequently finalized and implemented. 5. The Temporary scheme of State aid granted to undertakings in the AVAS' portfolio aimed at the recovery of the debts taken over by AVAS The scheme has as legal basis the article 421 in the GEO no. 51/1998, with subsequent amendments and completions. The State aid measures are addressed to the undertakings which request the total or partial temporary suspending of the forcible execution through the stopping of the banking accounts. The scheme draft should

be completed with the objections formulated by the RCC experts, in order to be finalized, and to be submitted, afterwards, by the Competition Council, to the European Commission, under the pre-notification procedure. And now, turning back to the aim of our present meeting, it should be welcome the initiative of the Competition Council of setting up the National State Aid Network, which creates the prerequisites for a better understanding of the community legislation, for the access to the opinions and views expressed by the experts in other institutions on the proposals presented by AVAS, as well as for getting the needed response to certain questions which are facing us within the process of making decisions regarding the financial supporting measures aimed at the companies.

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IEIREA DIN CRIZ - CAZUL ROMNIEI INTERBELICE

Marcela SLGEAN76
n Romnia interbelic, primele semne ale crizei economice s-au fcut simite nc din 1928, cnd unul dintre primele indicii ale agravrii situaiei a fost severa cdere a preurilor la Bursa de valori din Bucureti. Prima, i cea mai grav afectat ramur economic a fost agricultura. Odat declanat criza, capacitatea rii de a face fa situaiei a fost mult diminuat att datorit economiei sale predominant agrare, ct i lipsei de diversificare a ramurilor economice. Cealalt ramur economic, industria, a progresat ntr-un ritm constant i relativ ridicat (anii '20 fiind martorii unei nfierbntate discuii n jurul problemei industriei i industrializrii), dar criza economic a ntrerupt aceast dezvoltare, producia industrial ajungnd, n 1932, cu 57% mai mic fa de anul 1928. Drept consecin, venitul naional pe cap de locuitor a nregistrat o curb descendent, de la 11.000 lei, n 1928, la 4.800 lei n 1932. Odat criza instalat, att guvernele anilor 19291932, ct i cele care au urmat, au ncercat varii msuri pentru combaterea ei. Preocuparea imediat a fost datoria rneasc, din dorina autoritilor de a percepe toate taxele datorate de rani statului. Principalul motiv pentru care autoritile s-au concentrat mai nti asupra acestei msuri a fost lipsa de bani, statul fiind nevoit de mai multe ori, n intervalul 1929-1933, s nu plteasc salarii diferitelor categorii de bugetari (cunoscutele curbe de sacrificiu). Msura s-a dovedit a fi un eec (la un moment dat s-a mers aa de departe nct s-au scos la licitaie proprietile celor care nui puteau achita datoriile; pe cine nu a sracit criza, a srcit statul, se spunea n epoc!!!). n 1932, Guvernul a redus impozitele pentru rani i a adoptat un program de conversie a datoriilor. n acest sens, n perioada 1932-1934 au fost adoptate patru legi privind datoriile agricole: 1- aprilie 1932, Legea pentru asanarea datoriilor agricole (Legea de conversiune a datoriilor agricole), prin care se reduc datoriile proprietarilor agricoli; 2 octombrie 1932, Noua lege de conversiune a datoriilor agricole (care suspend aplicarea legii din aprilie), debitorii urmnd s se neleag cu creditorii asupra sumelor pe care urmau s le plteasc, n caz contrar apelndu-se la arbitrajul instanelor judectoreti; 3 aprilie 1933, Legea pentru reglementarea datoriilor agricole i urbane (abrog legile din 1932), prin care conversiunea datoriilor se nlocuiete cu un moratoriu pe 5 ani, n cazul neacceptrii acestuia de ctre creditor, debitorul este obligat s nceap imediat plata datoriei; 4 aprilie 1934, Legea pentru lichidarea datoriilor agricole i urbane. Anii care au urmat crizei au adus o binevenit schimbare a politicii agrare oficiale. Taxele vamale de export au fost suprimate (nc din 1931), iar statul a intervenit n mod activ pentru ncurajarea exportului de cereale. Aceasta s-a dovedit a fi o politic necesar, n condiiile acumulrii stocurilor de cereale nevndute. Primele de export au crescut anual, cheltuielile fiind apoi recuperate prin taxe de pine. n anii 1933-1934, statul a efectuat cumprri masive de cereale pentru a menine preul, iar dup 1935 a introdus i un pre minimal de cumprare a produselor agricole, garantnd astfel un venit stabil productorilor. n 1937, an n care 75% din proprietile rneti ajunseser s aib sub 5 ha, s-a adoptat legea privind organizarea

76

Conf. univ.dr. Universitatea Babe-Bolyai Cluj-Napoca.

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ECONOMIC CRISIS AND REESTABLISHING IN THE INTER-WAR ROMANIA77

Marcela SLGEAN78
The first symptoms of the economic crisis in Romania, within the inter-war period, were felt even during the year 1928, when a harsh prices fall down at the Bucharest Stock Exchange took place, as one of the first sign of the state worsening. The agriculture was the first and the most seriously affected economic branch. Once unleashed the crisis, our country ability to face such a situation was much diminished due to the absence of an economic diversification. The other economic branch, the industry, was developing in a constant and rather high rhythm (the 20' decade being the whiteness of passionate debates on the industry and industrialization). But the economic crisis interrupted this development, the industrial output in 1932 being by 57% lower than that achieved in 1928. Consequently, the national income per capita registered a descending curve, from 11,000 Lei in 1928, attained the level of 4,800 Lei in 1932. Once the crisis installed, both the Governments acting over the period 1929-1932, and the following made endeavors to apply different measures in order to discourage it. The immediate concern was the peasant debt, the authorities intending at the levying of all the taxes owed by the peasants towards the State. The main reason explaining why the authorities decided to focus their attention on this measure, as the first priority, was the lack of liquidities, the State being, many times over the period 1929-1933, in the incapacity to pay wages to different categories of employees in the public institutions (the so-called sacrifice curves). In addition, attempting to accomplish the recovery of debts, the State made hard efforts, among them being the selling by auction of the ownerships belonging to those persons which couldn't pay their debts (in those times, it was said that that one which hadn't yet been pauperized by the crisis, was impoverished by the State!). In 1932, the Government reduced the taxes on farmers, and adopted a program aimed at the debts conversion. In this respect, a number of 4 laws concerning the agricultural debts were adopted over the period 1932-1934, as follows: 1 - April 1932, Law concerning the reclaiming of the agricultural debts (Law for the agricultural debts conversion), which was reducing the debts of the agricultural owners; 2 October 1932, the new Law for the agricultural debts conversion (which was postponing the applying of the law from April): the debtors and the creditors had to agree upon the amounts intended to be paid, otherwise they should resort to the courts arbitration; 3 April 1933, Law for the settlement of the agricultural and city debts (it repeals the law from 1932): it was replacing the debts conversion by a moratorium on 5 years - in the event of non-acceptance by the creditor, the debtor should, at once, begin the debt repayment; 4 April 1934, Law for the settling of the agricultural and city debts. The years following the crisis brought a welcome changing of the official agrarian policy. The export customs duties were abolished (even from 1931) and the State actively intervened in order to encourage the grains exportation. Such policy proved to be a needed one, given the accumulation of unsold stocks of grains. The bonuses aimed at the exportation have been yearly increased, the related expenses being subsequently recovered through taxes on bread.

77 78

Translated into English by Doina Mesteacn. Ph.D.lecturer, University of Babe-Bolyai Cluj-Napoca.

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i ncurajarea agriculturii, ale crei prevederi erau ndreptate tocmai mpotriva pulverizrii proprietii. n ceea ce privete industria, aceasta s-a bucurat de cea mai mare atenie n perioada imediat urmtoare crizei. ncepnd din 1933, procesul de cretere a renceput s se fac simit, pe tot parcursul deceniului patru industria fiind beneficiara unor nsemate msuri de protecie i ncurajare. Aa se face c, din 1934, dezvolatea industriei a devenit elementul central al programelor economice, politicienii i economitii fiind deja convini c ncurajarea, controlul i protejarea economiei de ctre stat erau indispensabile, n condiiile n care parte din experienele particulare se dovediser nepotrivite. Sprijinul acordat de stat industriei a mbrcat diferite forme: 1 furnizarea capitalului prin intermediul propriului su buget; 2 au fost disponibilizate mari cantiti de capital prin intermediul noilor societi oficiale de credit i prin intermediul Bncii Naionale; 3 statul a adugat noi industrii celor crora le cumpra n mod obinuit produsele; 4 societilor le-au fost oferite stimulente speciale pentru a produce bunuri ce nu se fabricau n ar, n special acelor care ncorporau tehnologie avansat sau erau capabile s promoveze industrializarea rii; 5 - au fost reduse impozitele datorate de intreprinderile care foloseau materile prime din agricultur; 6 pentru scderea numrului omerilor, n iulie 1934, a fost adoptat Legea pentru utilizarea personalului romnesc n intreprinderi (se cerea folosirea n toate categoriile de salariai, ntr-o proporie de 80%, personal romnesc); 7- au fost acordate mari avantaje economice celor care nfiinau intreprinderi noi (legea din 1936); 8 a fost ncurajat procesul de concentrare a intreprinderilor ( s-a ajuns ca, n 1936, 13 societi s dein 48% din totalul capitalului industrial); 9 n vederea asigurrii supravieuirii unor industrii, n primvara lui 1937 au fost legalizate cartelurile ( msur prin care s-a stabilit acordarea monopolului permanent sau cvasimonopolului n privina anumitor bunuri, sub supravegherea ministerelor de resort), etc.

Capitalul strin a continuat s fie o important surs de finanare (n industria minier, petrolier, chimic), dar a nregistrat un declin, de la 70% n 1929, la 40% n 1939. Totui, conform statisticilor oficiale, n 1938, capitalul britanic reprezenta 13,59% din totalul capitalului existent n economia romneasc, cel francez era de 9,33%; american 5,88%; italian 3,04%; german 0,60%, urmnd ca acesta din urm s creasc. n 1939 Germania devenise cel mai bun client al Romniei, prelund 32% din exporturile ei i era principalul ei furnizor, deinnd 39% din totalul importurilor Romniei. Perspectiva izbucnirii unui nou rzboi a solicitat industria romneasc, unele ramuri nregistrnd dezvoltri spectaculoase. De exemplu, ntre 19301939, producia de laminate a crescut cu peste 81%, cea de maini cu 111,8%, cea de piese de font i oel cu 258%. n schimb, industria bunurilor de consum a avut o cretere mai modest, de exemplu, industria obiectelor de menaj i mobil a crescut cu numai 39%. Producia petrolier a cunoscut i ea o curb cresctoare, atingnd punctul culminant, de aproape 9 milioane tone n 1936, ca apoi s scad la 6,2 mil tone n 1939.

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During the years 1933-1934, the State performed bulky purchases of grains, aiming to maintain their price, and after 1935 it established a minimum buying price for the agricultural products, so that to guarantee stable incomes for the producers. In 1937, when 75% of the peasants' ownerships had a unitary area of below 5 ha, the Law concerning the organizing and encouraging of the agriculture was issued, its provisions aiming to stop the pulverizing of the property. As concerns the industry, this economic branch benefited from the highest attention during the post-crisis period. Starting from 1933, the growth process resumed, so that the industry was the beneficiary of several protecting and encouraging measures over the whole 4th decade. Thus, the industry developing became, since 1934, the core element of the economic programs, because the politicians and the economists were already convinced about the real need to encourage, control, and protect the economy by the State, taking into consideration the fact that, in certain cases, the private initiatives failed. The support granted by the State to the industry took different forms: 1 supplying of the capital through its own budget; 2 large amounts of capital have been made available both through the official credit companies, and through the National Bank; 3 new industries became constant suppliers of goods for the State bodies; 4 special incentives, aimed at the manufacturing of new goods, especially of such goods incorporating high technology or being able to promote the country industrializing, have been awarded to the companies; 5 taxes owed by the undertakings which were employing raw materials from the agriculture have been diminished; 6 the Law aimed at the employing of the Romanian personnel within companies was issued in July 1934 (it stipulated the requirement of using, within all the categories of employees, of a share of 80% of Romanian staff; 7 large economic advantages have been granted to those persons which set up new companies (the Law in 1936); 8 - the companies concentration process was encouraged

(as a result, in 1936, a number of 13 companies held 48% out of the total industrial capital); 9 the cartels were legally allowed, in spring 1937, in order to ensure the survival of certain industries (this measure stipulated to award a permanent monopoly or a quasi-monopoly in relation with certain goods, under the line ministries supervising), etc. The foreign capital continued to be an important financing source (in the mining industry, in the petroleum industry, and in the chemical industry), but registered a decline, from 70% in 1929, to 40% in 1939. However, according to the official statistics, in 1938, in the total capital existing in the Romanian economy, the foreign ones held the following shares: the British capital - 13.59%, the French one - 9.33%, the American one 5.88%, the Italian one 3.04%, and the German one 0.60% (the latest having an increasing perspective). In 1939, Germany became the best customer of Romania, taking over 32% of its exports, and being its main supplier, holding a percentage of 39% in the total importations in Romania. The perspective of a new war outbreak stimulated the Romanian industry, certain branches registering spectacular developing. For instance, over the period 1930-1939, the output of certain goods increased as follows: rolled metal goods increased by over 81%; machines by 111.8%; (machine) parts in pig or cast iron by 258%. However, as concerns the consumer goods industry, this had a modest increase for example, the industry of objects aimed at the housekeeping and the furniture increased by only 39%. The petroleum industry had an increasing curve too, attaining its acme in 1936 (about 9 mil. of tons), afterwards decreasing to 6.2 mil. of tons, in 1939.

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Concluzionnd, putem afirma c efectele crizei economice din perioada interbelic au influenat gndirea economitilor i politicienilor romni de atunci, care, chiar dac nu au rezolvat ntrutotul problemele economice ale Romniei, au avut cel puin determinarea i curajul de a le nfrunta. Dependena rii noastre de puterile economice ale vremii, dependen pus puternic n eviden mai ales de restriciile impuse de acestea importurilor de produse agricole din Romnia, a determinat elita politic i economic romneasc s susin accentuarea rolului intervenionist al statului n economie. Acest lucru a fost ilustrat de finanarea ramurilor economice de la buget, mai ales a industriei, de asigurarea unei protecii vamale, de consolidarea infrastructurii transporturilor, sistemului bancar, comercial i cel al finanelor publice. Istoria a demonstrat c, n condiiile interne i externe vitrege existente, msurile adoptate atunci au asigurat, pn la sfritul deceniului patru, o cretere continu a economiei, n ansamblul ei.

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As a conclusion, we could declare that the effects of the economic crisis during the inter-war period influenced the economical thinking of the Romanian economists and politicians at that age, which had the courage and the ability to face the economic problems in Romania, even they didn't succeed to solve them entirely. The dependence of our country on the industrial powers of the times, strongly highlighted through the restrictions imposed by those States to the imports of Romanian agricultural goods, led the Romanian political and economical pick and flower to accept the increasing of the State interventionist role into the economy. Such thing was illustrated through: the financing of the economic branches, and especially of the industry, from the budget; the ensuring of a customs protection; the consolidating of the transports, banking, commercial, and finance systems. The history proved that, given the internal and external existing conditions, the measures adopted at that time ensured, until the end of the 4th decade, a continuous increase of the economy, as a whole.

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CONCLUZII REZULTATE DIN ANALIZA RAPORTULUI AJUTOARELOR DE STAT ACORDATE N ROMNIA N PERIOADA 2005 2007
Daniel DIACONESCU79 Constana DUMITRESCU80
Rezumat Raportul ajutoarelor de stat reprezint un document destinat asigurrii transparenei i de analiz n materia ajutorului de stat i prezint o situaie a nivelului, structurii i tendinelor nregistrate n acordarea ajutoarelor de stat n Romnia n perioada 20052007. Ajutorul de Stat Naional a avut o tendin de scdere, att n valoare absolut, ct i ca pondere n Produsul Intern Brut. Astfel, Romnia se ncadreaz n cerinele Comisiei Europene de a acorda ajutoare de stat sub 1% din P .I.B. Din punct de vedere al instrumentelor financiare, ncepnd cu anul 2005, se observ pentru prima oar cum cheltuielile bugetare depesc renunrile la scutiri de taxe, impozite i contribuii din partea statului, reflectnd schimbrile care au avut loc pentru adaptarea companiilor romneti la noile fore concureniale de pe Piaa Unic European. Cuvinte cheie: Raport, ajutor de stat, transparen, Romnia. ncepnd cu anul 2004, Consiliului Concurenei i-a revenit sarcina ntocmirii i actualizrii anuale a Inventarului ajutoarelor de stat, care cuprinde toate schemele de ajutor de stat i ajutoarele de stat individuale existente definite conform prevederilor art. 31 i 32 din Legea nr.143/1999 privind ajutorul de stat, republicat. Dup aderarea Romniei la Uniunea European la 1 ianuarie 2007, competenele Consiliului Concurenei n domeniul ajutorului de stat s-au schimbat iar Legea nr. 143/1999 a fost abrogat, intrnd n vigoare O.U.G. nr. 117/2006 privind procedurile naionale n domeniul ajutorului de stat. Conform prevederilor art. 19 (1) i 20 ale acestei ordonane de urgen, Consiliului Concurenei i revine n continuare sarcina de a ntocmi i actualiza anual Inventarul ajutoarelor de stat.
79 80

Pe baza Inventarului, Consiliul Concurenei ntocmete un Raport anual privind ajutoarele de stat acordate n Romnia, care este naintat spre informare Guvernului Romniei, urmnd de a fi publicat n Monitorul Oficial i transmis Comisiei Europene. Prezentul Raport prezint o situaie a nivelului, structurii i tendinelor nregistrate n acordarea ajutoarelor de stat n ara noastr n perioada 20052007, fiind al noulea Raport elaborat de Romnia i al doilea de la aderarea rii noastre la Uniunea European. Raportul ajutoarelor de stat acordate n Romnia n perioada 2005 2007 poate fi consultat pe pagina de internet a Consiliului Concurenei la urmtoarea adres: www.consiliulconcurentei.ro/Publicaii/Rapoarte i aciuni de monitorizare.

Director, Direcia Raportare, Monitorizare i Control Ajutor de Stat. Inspector de concuren, Direcia Raportare, Monitorizare i Control Ajutor de Stat.

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CONCLUSIONS DRAWN FROM THE REPORT OF THE STATE AIDS GRANTED IN ROMANIA BETWEEN 2005 AND 2007
Daniel DIACONESCU81 Constana DUMITRESCU82
Abstract83 The report of the state aids represents a document destined for the assurance of transparency and for analyze within the state aid field and it presents a situation of the level, structure and trends recorded in granting state aids in Romania between the years 2005 and 2007. The National State Aid encountered a descending trend, both in absolute value as well as in weight in the Gross Domestic Product. Thus, Romania complies itself to the European Commission's requests to grant state aids under 1% of the GDP . Concerning the financial instruments, starting with the year 2005, it can be observed for the first time, how budgetary expenses exceed the state's renouncement of exemptions from duties, taxes and contributions, reflecting the changes that occurred in order for the Romanian companies to adapt themselves to the newest competition forces on the European Single Market. Keywords: Report, state aid, transparency, Romania. Starting with the year 2004, the Competition Council was allocated the task of elaborating and annual updating of the State Aids Inventory, which comprehends all the existent state aid schemes and individual state aids, defined according to the provisions of articles 31 and 32 within Law no. 143/1999 regarding state aid, republished. After Romania's accession to the European Union, on the 1st of January 2007, the competences of the Competition Council within the state aid field have changed, Law no.143/1999 has been recalled, with G.E.O. no.117/2006 regarding the national procedures within the state aid field coming into force. According to the provisions of art.19 (1) and 20 within this G.E.O., the Competition Council continues to have the task of elaborating and annual updating of the State Aids Inventory. Based on the Inventory, the Competition Council elaborates an annual Report on state aids granted in Romania, which is forwarded to the Government of Romania for information, after that being published in the Official Monitor and handed over to the European Commission. The present Report displays a situation of the level, structure and direction recorded in granting state aids in our country between the years 2005 and 2007, being the 9th Report elaborated by Romania while also being the 2nd one since our country joined the European Union. The Report of State Aids granted in Romania between 2005 and 2007 can be consulted on the internet webpage of the Competition Council www.consiliulconcurentei.ro/ Publications/Reports and monitoring actions.
83 Translated into English by Daniel Diaconescu and Constana Dumitrescu.

81 Head of Directorate of Reporting, Monitoring and Control of State Aid. 82 Competition inspector, Directorate of Reporting, Monitoring and Control of State Aid.

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* * *

Metodologia de ntocmire a raportului este prevzut n Regulamentul privind procedurile de raportare i monitorizare a ajutoarelor de stat, emis de Consiliul Concurenei. Astfel, Raportul reprezint un document destinat asigurrii transparenei n materia ajutorului de stat i a fost ntocmit pe baza datelor i informaiilor transmise de ctre toi furnizorii de ajutor de stat autoriti publice centrale i locale precum i organisme care administreaz surse ale statului sau ale colectivitilor locale. Informaiile transmise cuprind o perioad de 3 ani, respectiv anul de raportare 2007 i 2 ani anteriori 2005 i 2006 n vederea actualizrii datelor anterioare. Raportul cuprinde date i informaii referitoare la ajutoarele de stat acordate n perioada 2005 2007, grupate pe urmtoarele capitole: Ajutorul de stat naional; Ajutorul de stat acordat industriei prelucrtoare; Ajutorul de stat acordat industriei extractive; Ajutorul de stat acordat ntreprinderilor ce presteaz servicii de interes economic general; Ajutorul de stat acordat pentru fora de munc; Ajutorul de stat acordat pentru servicii financiare, turism, media i cultur; Ajutoarele de stat regionale; Ajutoarele de minimis; Ajutoarele de stat acordate n sectorul transporturi; Ajutoarele de stat acordate agriculturii i pescuitului; Recuperarea ajutoarelor de stat ilegale.

Raportul este conceput pe structura Scoreboard-ului raportul ajutoarelor de stat elaborat de Comisia European, prin care aceasta analizeaz evoluia i nivelul ajutoarelor de stat acordate de Statele Membre ale Uniunii Europene. Pentru analiza volumului ajutoarelor de stat acordate n Romnia, s-au folosit indicatorii macroeconomici agregai transmii de Institutul Naional de Statistic (PIB, deflatorul PIB, cursul mediu anual de schimb). Analiza evoluiei ajutoarelor de stat acordate n Romnia n perioada 2005-2007 este realizat n primul rnd pe volumul total anual i apoi pe dou paliere, respectiv pe obiectivele care s-au avut n vedere la acordarea ajutoarelor i pe instrumentele utilizate pentru acordarea acestora. A. Ajutorul de Stat Naional total (mai puin agricultura, pescuitul i transporturile) exprimat n preuri curente prezint o tendin general de scdere, de la 2,86 mld. RON n 2005 (0,78 mld. Euro) la 2,24 mld. RON n 2007 (0,67 mld. Euro), cu o cretere n 2006 la 3,38 mld. RON (0,96 mild. Euro), dar o scdere drastic fa de 6,51 mld. RON n 2004 (1,60 mld Euro). Ca pondere n Produsul Intern Brut, Ajutorul de Stat Naional a avut o tendin de scdere continu, de la 1,00% n 2005 i 0,99% n 2006 la 0,56% n anul 2007, situaie i mai evident fa de 2,64% in 2004.

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* * * The methodology of elaborating the Report is provided in the Regulation concerning the procedures of reporting and monitoring state aids, issued by the Competition Council. Thus, the Report represents a statistical instrument, intended for the assurance of transparency within the state aid field, and it was elaborated on the basis of the data and information sent by all the state aid grantors central or local public authorities as well as the bodies which administrate state or local collectivities' sources. The information sent comprehends a period of 3 years, respectively the year of report 2007 and the 2 previous years 2005 and 2006 in order to update the previous data. The Report contains data and information concerning state aids granted between the years 2005 and 2007, grouped in the following chapters: National state aid; State aid granted to the processing industry; State aid granted to the extractive industry; State aid granted to undertakings for services of general economic interest (SGEI); State aid granted for the development of the labor force; State aid granted for financial services, tourism, media and culture; Regional state aid; De minimis state aid; State aid granted in the transportation sector; State aid granted to agriculture and fishery; The recovery of the illegal state aids.

The Report is drafted on the structure of the Scoreboard the report of state aids elaborated by the European Commission, through which it evaluates the evolution and the level of the state aids granted by Member States of the European Union. In order to analyze the volume of state aids granted in Romania, there have been used aggregated macro-economical indicators sent by the National Institute of Statistics (GDP GDP deflator, annual , average exchange rate). The analyze of the evolution of state aids granted in Romania between 2005 and 2007 is based, primarily, on the total annual volume and after that, on two levels, respectively the objectives taken into consideration when the aid was granted and also the instruments used in granting the aids. A. The National State Aid (except agriculture, fishery and transport) in terms of current prices, presents a general descending trend, from 2,86 billion RON in 2005 (0,78 billion Euro) to 2,24 billion RON in 2007 (0,67 billion Euro), with a rise in 2006 to 3,38 billion RON (0,96 billion Euro), but with a sharp decrease from the 6,51 billion RON recorded in 2004 (1,6 billion Euro). As weight in the GDP the National State Aid had a , continuous descending trend, from 1,00% in 2005 and 0,99% in 2006 to 0,56% in 2007, a situation even more relevant than 2,64% in 2004.

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Tabelul nr. 1 - Ajutorul de stat identificat la nivel naional


2004 Ajutorul de stat naional exprimat n: Mii Lei preuri curente (exceptnd agricultura, pescuitul i transporturile) Mii Euro * Mii Lei preuri constante 2004** Dinamica % Ponderea ajutorului de stat naional n PIB % (exceptnd agricultura, pescuitul i transporturile)
* calculat pe baza cursului mediu anual al leului n raport cu euro, sursa INSSE; ** s-a utilizat deflatorul PIB pentru transformarea n preuri constante 2004, sursa INSSE (deflator PIB anul 2004=100%; 2005=112,20%; 2006=124,00%; 2007=139,80%);

2005

2006

2007

6.510.497,14

2.860.438,24

3.383.648,79

2.248.763,58

1.606.256,65 6.510.497,14 100,00

789.426,57 2.549.410,20 39,16

960.036,54 2.728.749,02 41,91

673.827,22 1.608.557,64 24,71

2,64

1,00

0,99

0,56

Graficul nr. 1 Ponderea ajutorului de stat naional n PIB


3,0

2,5

2,0 (%)

1,5

1,0

0,5

0,0 2004 2005 2006 2007

Reducerea ajutorului de stat naional din perioada 2005 2007 fa de 2004 s-a datorat, n principal, interzicerii acordrii ajutoarelor de stat n domeniul siderurgic i diminurii considerabile

a ajutoarelor de stat acordate pentru salvarea i restructurarea agenilor economici aflai n dificultate.

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Table no. 1 National State Aid identified at national level


2004 National State Aid expressed in: Thousand Lei current prices (except agriculture, fishery and transport) Thousand Euro * Thousand Lei 2004 constant prices** Dynamics % Weight of the national state aid in the GDP% (except agriculture, fishery and transport) 6.510.497,14 1.606.256,65 6.510.497,14 100,00 2,64 2.860.438,24 789.426,57 2.549.410,20 39,16 1,00 3.383.648,79 960.036,54 2.728.749,02 41,91 0,99 2.248.763,58 673.827,22 1.608.557,64 24,71 0,56 2005 2006 2007

* calculated on the basis of the annual average exchange rate of RON against Euro, source INSSE; ** the GDP deflator has been used in order to transform in 2004 constant prices, source INSSE (GDP deflator for 2004=100%, 2005=112,20%, 2006=124%, 2007=139,80%)

Graph no.1 The weight of the national state aid in the GDP
3,0

2,5

2,0 (%)

1,5

1,0

0,5

0,0 2004 2005 2006 2007

The decrease of the national state aid between 2005 and 2007 comparative to 2004 was due, primarily, to the interdiction of granting state

aids in the steel industry and the considerable diminishment of state aids granted for rescuing and restructuring of undertakings in distress.

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Nivelul foarte ridicat nregistrat n anul 2004 s-a datorat accelerrii procesului de restructurare i privatizare a companiilor cu capital majoritar de stat din acea perioad, precum si faptului c a fost ultimul an n care industria siderurgic din Romnia a mai primit ajutoare de stat. Acest aspect este reflectat i de ponderea n ajutorul de stat naional a ajutoarelor de natura scutirilor i reducerilor la plata obligaiilor fiscale ale agenilor economici fa de stat, si a celor de natura scutirilor i reducerilor la plata majorrilor de ntrziere (ajutoare fiscale), acordate n procesul de privatizare i de restructurare. Dei n anul 2006 valoarea absolut a ajutorului de stat (valoarea include si ajutoarele de stat pentru Serviciile de Interes Economic General - SIEG, precum i ajutoarele de minimis) a crescut fa de anul 2005 i 2007, valoarea procentual n PIB a sczut continuu, deoarece PIB-ul a crescut mai mult n 2006, de la 79 mld Euro n 2005 la 97 mld. Euro n anul 2006, ajungnd la 121 mld. Euro n 2007 (cretere economic record). B. n ceea ce privete analiza pe obiective a ajutoarelor de stat acordate n Romnia n perioada 2005 - 2007, s-a constatat o tendin de aliniere la prioritile stabilite n Planul de aciune al Comisiei Europene, adoptat n iunie 2005. Astfel: n anul 2007 obiectivele orizontale (cercetare-dezvoltare, protecia mediului, ntreprinderi mici i mijlocii, salvare restructurare, combaterea omajului, alte obiective) au reprezentat 16,45% din ajutorul naional (exceptnd agricultura, piscicultura i transporturile), n scdere fa de anii anteriori (37,81% n 2006 i 34,03% n 2005). ns, aceast scdere se poate pune pe seama faptului c s-au redus ajutoarele de salvare i restructurare (care implic un grad mai mare de risc n a distorsiona concurena) precum i a faptului c ajutoarele destinate IMM-urilor s-au acordat mai mult sub forma ajutoarelor de

minimis, ajutoare mai uor de obinut de ctre agenii economici. Totui, ponderea ajutoarelor de stat pentru cercetare, dezvoltare i inovare a crescut n anul 2007 fa de 2005 - la 4,66% fa de 1,92% din ajutorul de stat naional (exceptnd agricultura, piscicultura i transporturile). n anul 2007 obiectivele sectoriale (oel, construcii navale, autovehicule, fire i fibre sintetice, industria crbunelui, turism, servicii financiare, media i cultur) au reprezentat 17,81% din ajutorul naional (exceptnd agricultura, piscicultura i transporturile), fiind n scdere fa de 18,05% n anul 2005 i cu o scdere mai accentuat in 2006 11,61%.

O tendin cresctoare au nregistrat, ns, ajutoarele destinate industriei crbunelui, de la 14,40% din ajutorul naional (exceptnd agricultura, piscicultura i transporturile) n 2005 la 16,67% n 2007. Ajutoarele de stat acordate n anul 2007 includ i ajutorul acordat Companiei Naionale a Huilei Petroani sub forma subveniilor directe destinate acoperirii costurilor legate de producia curent i sub form de subvenii destinate acoperirii cheltuielilor sociale, ajutor autorizat de Comisia European. n anul 2007 obiectivele regionale au reprezentat 2,16% din ajutorul naional (exceptnd agricultura, piscicultura i transporturile), ponderea lor fiind relativ constant n perioada analizat, de 2 3%. n ceea ce privete ajutoarele de stat pentru prestarea unor Servicii de Interes Economic General SIEG pentru ap, canal, termoficare etc, se constat c n toat perioada analizat 2005 - 2007 dein o pondere majoritar n totalul ajutorului de stat naional (exceptnd agricultura, piscicultura i transporturile) de 44,44% n 2005, 47,76% n 2006 i 63,58% n 2007.

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The extremely high level recorded in the year 2004 was due to the acceleration of the restructuring process and privatization of companies with a majority of state capital from that period of time, as well as to the fact that it was the last year in which the steel industry in Romania was granted any state aid. This aspect is also reflected by the weight in the national state aid of aids consisting in exemptions and allowances for the payment of fiscal obligations by undertakings towards the state, and also of the aids consisting in exemptions and allowances from paying the additional charges for delays in payment (fiscal aids), granted during the privatization and restructuring process. Although in the year 2006, the absolute value of the state aid (this value also includes the aids for Services of General Economic Interest SGEI, as well as the de minimis aids) grew, comparative to the values of 2005 and 2007, the weight in the GDP has constantly diminished because the GDP grew more in 2006, from 79 billion Euro in 2005 to 97 billion Euro in 2006, reaching 121 billion Euro in 2007 (record breaking economic growth). B. Regarding the analysis based on objectives of state aids granted in Romania between 2005 and 2007, there has been noticed a tendency of alignment to the priorities established in The Action Plan of the European Commission, adopted in June 2005. Thus: in the year 2007, the horizontal objectives (research-development, environmental protection, small and medium enterprises, rescuing-restructuring , fighting against unemployment, other objectives) accounted for 16,45% of the national state aid (except agriculture, fishery and transport), which was less than the previous years (37,81% in 2006 and 34,03% in 2005). However, this reduction could have occurred because the rescuing and restructuring aids have decreased (which imply a greater level of risk in distorting the competition) as well as the fact that the aids destined for SMEs were

granted more under the de minimis regulations, aids easier to obtain by the undertakings. However, the weight in the national state aid (except agriculture, fishery and transport) of the aids for research, development and innovation grew in 2007 to 4,66% comparative to the one in 2005 (1,92%). in the year 2007, the sector-specific objectives (steel, shipbuilding, motor vehicles, synthetic fibers and wires, coal industry, tourism, financial services, media and culture) accounted for 17,81% of the national state aid (except agriculture, fishery and transport), which is less than the value recorded in 2005 (18,05%), while in 2006 it recorded a sharp decrease up to 11,61%.

An increasing trend have encountered, however, the aids granted for the coal industry, from 14,40% in the national state aid (except agriculture, fishery and transport) in the year 2005 to 16,67% in 2007. The state aids granted in 2007 also include the aid granted to the National Company of Coal Petrosani as direct subsidies destined for the covering of the expenses related to the current production as well as subsidies destined for the covering of social expenses, aid authorized by the European Commission. in the year 2007, the regional objectives accounted for 2,16% of the national state aid (except agriculture, fishery and transport), their weight in the analyzed period being relatively constant (2-3%). regarding the state aids granted for Services of General Economic Interest SGEI for water, sewer, heating and so on, it can be noticed that during the whole analyzed period, between 2005 and 2007, they hold a majority weight within the national state aid (except agriculture, fishery and transport) of 44,44% in 2005, 47,76% in 2006 and 63,58% in 2007.

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Marea majoritate a acestor ajutoare s-a acordat sub forma subveniilor pentru compensarea pierderilor ca urmare a prestrii unor servicii de interes economic general (pentru termoficare), n baza schemei de ajutor de stat iniiat de Ministerul Administraiei i Internelor. Aa cum se observ din analiz, n ceea ce privete repartiia ajutorului de stat pe obiective, Romnia se aliniaz tendinei generale la nivelul Uniunii Europene, de reducere a ajutorului de stat cu obiective sectoriale, acordat sectoarelor sensibile din punct de vedere concurenial (siderurgie, construcii navale, auto) i orientare a ajutorului de stat ctre obiective orizontale (cercetare dezvoltare, protecia mediului, IMM-uri). C. n ceea ce privete repartiia ajutorului de stat naional pe instrumente financiare utilizate, structura acestuia este urmtoarea: 94,89% Cheltuieli bugetare n anul 2007, categorie n care intr subveniile, alocaiile, primele, dobnzile subvenionate, alte sume nerambursabile, precum i participarea cu capital a statului i conversia datoriilor; ponderea cheltuielilor bugetare n ajutorul naional (exceptnd agricultura, piscicultura i transporturile) a crescut n perioada analizat (de la 74,41% n anul 2005 i 80,04% n 2006). 5,11% Renunri la venituri n anul 2007, categorie n care intr scutirile i reducerile la plata obligaiilor fiscale, scutirile i reducerile la plata majorrilor de ntrziere, garaniile de stat; ponderea renunrilor la venituri n ajutorul naional (exceptnd agricultura, piscicultura i transporturile) s-a redus n perioada 2005 2007 (de la 25,59% n anul 2005 i 19,96% n 2006).

ncepnd cu anul 2005 se observ pentru prima oar cum Cheltuielile bugetare depesc Renunrile la venituri, rsturnnd situaia existent pn n anul 2004, cnd renunrile la venituri de stat erau majoritare cu 82,01%, iar cheltuielile bugetare reprezentau 17,99%. Aceast repartiie a ajutorului de stat naional pe instrumente financiare n perioada analizat este n concordan cu cerinele Comisiei Europene de reducere a ajutoarelor de stat de natur fiscal, ntruct acestea pot afecta comerul intracomunitar. Tendina de scdere intens a ajutoarelor de natur fiscal reflect aplicarea corect a acquis-ului comunitar prin compatibilizarea msurilor de sprijin prevzute n legislaia romneasc. * * *

n concluzie, anul 2005 marcheaz alinierea Romniei la politicile i practicile comunitare n domeniul ajutorului de stat. Este nceputul unei perioade n care eforturile susinute ale Romniei pentru respectarea regulilor n materia ajutorului de stat au condus la situarea rii noastre la un nivel comparabil cu majoritatea statelor devenite membre n cadrul ultimului val de aderare din 2004. Atingerea acestui obiectiv a fost posibil prin elaborarea unor politici ndreptate spre acordarea de ajutoare mai puin distorsionante i mai bine orientate, prin controlul efectiv i eficient al ajutoarelor de stat i prin implementarea legislaiei comunitare n materia ajutorului de stat nc din perioada de pre-aderare.

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The vast majority of these aids were granted as subsidies for the compensation of the losses resulted from performing certain services of general economic interest (for heating), based on the scheme of state aid initiated by the Ministry of Administration and Interior. As it can be observed from the analyze, regarding the repartition of state aid on objectives, Romania aligns itself to the general tendency within the European Union, of reducing state aid for sectorspecific objectives, granted to the sensible sectors in terms of competition (steel, ship-building, motor vehicles) and orientating it towards horizontal objectives (research-development, environmental protection, SMEs). C. Regarding the repartition of the national state aid on financial tools used, its structure is the following: 94,89% Budgetary expenses in the year 2007, category which includes subsidies, allowances, bonuses, subsidized interests, other non-refundable amounts, as well as equity participations and debt conversions; the weight of the budgetary expenses in the national state aid (except agriculture, fishery and transport) has grew in the analyzed period of time (from 74,41% in 2005 and 80,04% in 2006). 5,11%% Revenues renouncement in the year 2007, category which includes exemptions and allowances from payment of fiscal obligations, exemptions and allowances from paying the supplementary charges for the payment delay, state guarantees; the weight of the revenues renouncement in the total national state aid (except agriculture, fishery and transport) has reduced itself in the period between the years 2005 and 2007 (from 25,59%%in 2005 and 19,96%%in 2006).

Starting with the year 2005, it can be observed how, for the 1st time, the budgetary expenses surpass the revenues renouncement, turning around the situation present until 2004, when the revenues renouncement were in majority with 82,01%% and the budgetary expenses accounted for only 17,99%% . This repartition of the national state aid on financial tools during the analyzed period is according to the European Commission's requests to reduce fiscal state aids, because these aids can affect trades within the community. The intense decreasing trend of fiscal state aids reflects the correct application of the community acquis, by harmonizing the supporting measures provided in the Romanian legislation. * * * In conclusion, the year 2005 marks Romania's alignment to the community policies and practices in the state aid field. It is the start of a period in which Romania's sustained efforts of respecting the rules in state aid field have led Romania to hold a comparable level with the majority of countries which became member states during the last accession wave in 2004. Reaching this objective was possible through the elaboration of certain policies targeted towards granting less distorting and better orientated state aids, through the effective and efficient control of state aids and through the implementation of the community legislation regarding state aid as early as the pre-accession period.

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Aplicarea, anterior aderrii, a acquis-ului comunitar n domeniile concurenei i ajutorului de stat a fost necesar pentru adaptarea companiilor romneti la noile reguli de joc i pregtirea acestora pentru a face fa forelor concureniale de pe Piaa Unic European. Adaptarea la Piaa Unic s-a intensificat ncepnd cu 1 ianuarie 2007, odat cu aderarea Romniei la Uniunea European, dat de la care reglementrile comunitare n domeniul ajutorului de stat se aplic direct i n totalitate. Rezultatele acestui proces intens de adaptare la Piaa Unic nu au ntrziat s apar. n acest sens, anii 2005, 2006 i 2007 se remarc prin dou trsturi: diminuarea Ajutorului de Stat Naional, att n valoare absolut, ct i ca pondere n PIB i respectiv, reducerea ajutoarelor de stat acordate sub forma facilitilor fiscale susceptibile de a distorsiona concurena i de a afecta comerul dintre Romnia i Statele Membre.

Progresele Romniei n acest domeniu se datoreaz, pe de o parte, faptului c s-a contientizat importana respectrii regulilor de joc la nivel european i, pe de alt parte, alinierii politicii acordrii ajutoarelor de stat la obiectivele Strategiei Lisabona, elaborat de Comisia European.

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The application, before de accession, of the community acquis in the competition and state aid fields was necessary in order for the Romanian undertakings to adapt to the new rules of the game and to prepare them to withstand the competition forces existent on the Single European Market. The adaptation to the Single Market intensified from the 1st of January 2007, once Romania entered the European Union, moment since when community regulations in the state aid field have been applied directly and totally. The results of this intense process of adaptation to the Single Market have not failed to show up, the years 2005, 2006 and 2007 being characterized by 2 features: the reduction of the national state aid, both in absolute value and in weight in the GDP, and respectively, the reduction of state aids granted as fiscal facilities which threatened to distort competition and to affect the trade between Romania and the other Member States.

Romania's progress in this field is owed, on one hand, to the fact that it has been taken into awareness the importance of respecting the rules at a European level, and on the other hand, to the alignment to the objectives of the Lisbon Strategy, elaborated by the European Commission of the policy of granting state aids.

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PIAA GRULUI CONCLUZII ALE RAPORTULUI INVESTIGAIEI UTILE


Maria ALEXANDRU84
Rezumat n septembrie 2007, Consiliul Concurenei a deschis o investigaie util pentru cunoaterea pieei cerealelor de panificaie, al crei scop a fost de a pune n eviden organizarea sectorului cerealelor de panificaie, modul de funcionare i mecanismele acestui sector. Dat fiind caracterul de investigaie util pentru cunoaterea pieei, acest studiu i-a propus s furnizeze autoritii de concuren i altor instituii ale statului o imagine asupra mecanismelor concureniale i s reprezinte un instrument de lucru pentru posibilele analize ulterioare ale sectorului. Desfurat n perioada septembrie 2007 decembrie 2008, investigaia util s-a concentrat asupra pieei grului, ntruct aceasta deine o pondere covritoare n sectorul analizat, iar rezultatele obinute pot fi cu uurin extinse i asupra celorlalte piee ce fac parte, fie n mod tradiional, fie cu caracter de noutate, din sector. De asemenea, a fost analizat i modul de organizare i funcionare a pieei serviciilor de depozitare a grului, serviciu care prezint o importan deosebit asupra modului de funcionare a pieei grului, n special prin influenarea comportamentului ofertei de gru. Acest demers reprezint o noutate din punct de vedere al obiectului cercetrii, fiind prima investigaie util pentru cunoaterea pieei desfurat de Consiliul Concurenei asupra unui produs agricol. Pornind de la aceste considerente, pe parcursul acestui articol vom ncerca s prezentm principalele concluzii ale investigaiei utile. Menionm c raportul elaborat n urma investigaiei este disponibil, n versiunea neconfidenial, la urmtoarea adres: www.consiliulconcurentei.ro/publicaii/publicaii recente/ raportul investigaiei utile pentru cunoaterea pieei cerealelor de panificaie. Cuvinte cheie: investigaie util, gru, mecanisme de funcionare, pia, concuren. Grul ocup un loc important n strategia de asigurare a securitii alimentare ntruct se caracterizeaz printr-o conservabilitate de lung durat i prin faptul c se preteaz la realizarea unei game diversificate de produse de panificaie. Rolul grului n strategia securitii alimentare este determinat i de posibilitile de conservare cu cheltuieli reduse n comparaie cu alte produse alimentare, nefiind necesare lanuri frigorifice sau instalaii costisitoare. n plus, grul se poate pstra timp ndelungat i se poate transporta la distane mari fr s se altereze.
84

Constituind principala materie prim n fabricarea produselor de panificaie, grul reprezint cea mai important cultur n cadrul produciei de cereale. Astfel, grul este cultivat n peste 100 de ri pentru a asigura hrana a 35-40% din populaia globului. Zonalitatea grului n lume este strns legat de natura solului, cele mai favorabile fiind zonele cernoziomurilor cu coninut ridicat n humus. De asemenea, extinderea culturii grului este influenat n mod direct i de factorii demografici, mai ales n rile n curs de dezvoltare.

Director al Direciei Cercetare-Sinteze, Consiliul Concurenei.

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WHEAT MARKET CONCLUSIONS OF THE SECTORAL INQUIRY REPORT


Maria ALEXANDRU85
Abstract86 The Competition Council opened in September 2007 a sectoral inquiry in the market for the cereals used in the bakery industry, with the purpose of emphasizing the sector's structure, its mechanisms and operating way. Considering the nature of the sectoral inquiries, this study intends to provide an overview of the competitions mechanisms for the competition authority and other state institutions and to offer a working tool for further analyses of the sector. The sectoral inquiry took place during the period September 2007 December 2008 and focused on the wheat market because of its overwhelming proportion in the targeted sector and since the results may be easily extended over the other markets which belong to the sector, either traditionally or as newcomers. The organizing and operating mode of the wheat warehousing services market has been also analyzed as it has a peculiar importance for the functioning of the wheat market, especially by the influence over the wheat offer conduct. This study is a novelty considering the object of the research, being the first sectoral study developed by the Competition Council for an agricultural product. Considering the above, in this article we will attempt to present the main conclusions of the sectoral study. The non-confidential version of the sectoral inquiry report is available at the following web address: www.consiliulconcurentei.ro/publicaii/publicatii recente/ raportul investigaiei utile pentru cunoaterea pieei cerealelor de panificaie. Keywords: sectoral inquiry, wheat, mechanisms, market, competition. The wheat has an important place in the strategy to ensure the food security as it is characterized by long term preservation and by its usage for a diversified portfolio of bakery products. The role of the wheat in the food security strategy is also determined by the cheap preservation possibilities as opposed to other food products, because it does not require cooling chains or expensive equipment. Moreover, wheat may be stored long term and may be transported over long distanced without alteration risks. As it is the main raw material for the manufacturing of bakery products, wheat represents the most important crop in the cereals production. As such, wheat is grown in over 100 countries to ensure food for 35-40% of the world population. The wheat regionalization in the world depends largely on the soil nature, the most favorable areas being the ones with black soil, with a high humus proportion. As well, the spread areas where wheat is cultivated is directly influenced by demographic factors, especially in the developing countries.

85 86

Head of Research and Synthesis Directorate, Competition Council. Translated into English by Andreea Enache.

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Din perspectiva scopului urmrit n cadrul investigaiei utile, raportul elaborat de autoritatea de concuren a pus n eviden o serie de caracteristici i trsturi specifice, redate succint mai jos. Att n sectorul grului de panificaie, ct i n sectorul serviciilor de depozitare a grului, preul se formeaz liber pe pia, ca rezultat al interaciunii ntre cerere i ofert, fr ca statul s intervin direct n mecanismul de formare a preurilor. Totui, pe piaa serviciilor de depozitare a grului au existat, n anii 2004 i 2005, dou intervenii publice n formarea preurilor, intervenii facilitate de mecanismul subvenionrii costurilor aferente depozitrii grului. Considerm c astfel de intervenii publice pot produce efecte de aliniere a preurilor purttorilor ofertei, motiv pentru care apreciem drept pozitiv faptul c astfel de intervenii nu au fost reluate (n aceast form) ulterior anului 2005. Analiza pieei denumit generic a produciei i comercializrii grului de panificaie nu a identificat bariere semnificative la intrare. Totui, se poate afirma c pe aceast pia se nregistreaz importante economii de scar i, de asemenea, c operatorii economici care integreaz mai multe tipuri de activiti specifice sectorului beneficiaz de avantaje competitive semnificative datorate acestei diversificri a activitii. n general, n perioada analizat, operatorii integrai i-au desfurat activitatea n condiii de profitabilitate sau, cel puin, au avut posibilitatea de a-i diminua pierderile, att datorit dimensiunii activitii, care a condus la costuri unitare mai reduse, n special prin diminuarea costurilor de tranzacionare, ct i datorit posibilitilor de a echilibra, la nevoie, pierderile realizate n cadrul unei activiti cu profiturile realizate n cadrul alteia. O caracteristic definitorie a pieei grului de panificaie, chiar a ntregului sector agricol din Romnia, o reprezint frmiarea proprietii

agricole, care se concretizeaz n existena unui numr foarte mare de exploataii agricole individuale (de dimensiuni foarte mici). Aceast frmiare are un impact direct asupra eficienei i profitabilitii n sector. O alt trstur a pieei grului este reprezentat de asimetria puterii de negociere ntre productorii agricoli individuali, n calitate de purttori ai ofertei, i purttorii cererii pe pia, asimetrie cu o influen semnificativ asupra formrii preurilor. Situaia este relativ similar i pe piaa serviciilor de depozitare a grului, pia pe care micii productori agricoli au calitatea de purttori ai cererii de astfel de servicii. Cu toate acestea, nu considerm necesar intervenia public pentru atenuarea acestei asimetrii (att timp ct nu se constat existena unor practici anticoncureniale), avnd n vedere c singurele rezultate plauzibile ale unei astfel de intervenii ar fi denaturarea concurenei i ncetinirea sau chiar blocarea procesului de consolidare a proprietii agricole i de eficientizare a activitii. Nu n ultimul rnd, piaa produciei i comercializrii grului n Romnia pare a fi afectat ntr-o msur semnificativ de existena unei piee negre, ponderea ridicat a acestei piee fiind invocat de muli participani la pia. Apreciem c, pentru limitarea i eradicarea acestui fenomen, care distorsioneaz funcionarea corect a pieei, este necesar identificarea de ctre autoritile de resort a unor metode mai eficiente de control a produciei i tranzaciilor cu gru, n vederea fiscalizrii urgente. n mod firesc, formarea preurilor pe piaa grului de panificaie este puternic influenat de situaia pieelor internaionale i de cotaiile nregistrate pe pieele bursiere externe.

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Considering the purpose of the sectoral inquiry, the report issued by the competition authority highlighted a series of characteristics and specific features, briefly stated below. In the bakery wheat sector, as well as in the wheat warehousing services sector the price is freely established in the market, as a result of the intersection between demand and offer, without a direct intervention of the state in the price mechanism. Nevertheless, in the wheat warehousing services market, in 2004 and 2005 two public interventions took place in the prices establishment, facilitated by the subsidizing mechanism of the wheat warehousing costs. We believe that such public interventions may generate alignment effects of the offer holder's prices, and therefore we appreciate as positive the fact that such interventions did not reoccur (in this form) after 2005. The market analysis, known as the bakery wheat production and trade market, did not identify significant entry barriers. However, we may say that important economies of scale are being recorded in this market and that the economic operators who are integrating several types of sector's specific activities benefit of significant competitive advantages due to their diversification. Generally during the analyzed period, the integrated operators performed their activity recording profits or, at least, had the possibility to reduce their losses due to the proportions of their activity, which led to lower cost per unit, especially by reducing the transactions costs, as well as due to the possibility of balancing, when necessary, the losses in one activity with the profits recorded in another one. A defining feature of the bakery wheat market and perhaps even of the whole agricultural sector in Romania, is the fragmentation of agricultural property, which is reflected in the existence of a very large number of individual farms (very small size). This fragmentation has a direct impact on the sector efficiency and profitability.

Another feature of the wheat market is the asymmetry of bargaining power between individual producers, as bearers of supply, and demand holders on the market, asymmetry with a significant influence on the price formation. The situation is roughly the same on the wheat warehousing services market, where there small farmers have the status of demand holders for these services. However, we do not consider necessary the public intervention in order to lessen this asymmetry (as long as there is no existence of anticompetitive practices), because the only plausible effects of such interventions would be the distortion of competition and the slowing down or even the blocking of the agricultural property consolidation processes and the processes of activity efficiency. Not finally, the bakery wheat production and trade market in Romania seems to be affected to a significant extent by the existence of a black market, whose large share was claimed by many market participants. We appreciate that, to limit and to eradicate this phenomenon, which distorts the proper functioning of the market, it's necessary that the relevant authorities to identify more efficient control methods of wheat production and transactions in, for urgent fiscalization. Naturally, price formation on bread wheat market is strongly influenced by the situation in international markets and by the quotations recorded on the foreign stock markets.

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O influen asupra preurilor pe piaa grului de panificaie o are i intervenia indirect a statului, care poate disponibiliza cantiti de gru din Rezerva de Stat, fie pentru mprosptarea stocurilor, fie pentru acoperirea deficitului de gru nregistrat pe pia n anumite momente. Apreciem c, dei acoperit de cadrul legislativ specific, disponibilizarea de gru din Rezerva de Stat, prin mecanismul mprumutului de gru ctre operatori selectai prin negociere direct, distorsioneaz concurena, ndeosebi prin crearea unui avantaj de natur economicofinanciar operatorului selectat. Aceasta n special n condiiile n care mprumutul se face n perioada de final a anului agricol, cnd preul atinge niveluri ridicate, iar restituirea grului se realizeaz la nceputul anului agricol urmtor, cnd preul tinde a fi minim. Ca atare, se recomand ca alternativ utilizarea mecanismului de vnzarecumprare a grului pentru mprosptarea rezervei prin metode deschise, transparente i nediscriminatorii. n ceea ce privete tranzacionarea grului pe piaa bursier din Romnia, s-a constatat c aceasta este mpiedicat de inexistena unui sistem funcional de garantare a certificatelor de depozit. Situaia este cauzat de lipsa unui capital iniial acoperitor al Fondului de garantare pentru certificatele de depozit. Certificatul de depozit reprezint titlu de credit negociabil, reprezentativ al mrfii, la ordin sau la purttor, transmisibil fr limite sau restricii. n aceste condiii, certificatul de depozit constituie o valoare mobiliar, care st la baza tranzacionrii grului, n special pe piaa bursier, dar i n afara acesteia. n condiiile nefuncionrii efective a Fondului, aceast valoare mobiliar nu prezint suficiente garanii cu privire la existena efectiv a cantitilor de gru tranzacionate, la calitatea specificat, ceea ce submineaz ncrederea potenialilor participani la operaiune i limiteaz comercializarea grului doar la operaiunile ce implic prezena efectiv a cantitilor tranzacionate.

Apreciem ca dezirabil identificarea de ctre MAPDR a unor soluii de sprijinire a funcionrii acestui fond, avnd n vedere c tranzacionarea bursier a grului ar avea ca efect att facilitatea comercializrii acestui produs, ct i asigurarea unui grad mai mare de transparen, prin nlesnirea accesului la informaii privind evoluia preurilor pentru participanii pe pia. n ceea ce privete evoluia preurilor la gru, s-a constatat c situaia nregistrat n anul 2007, cnd s-au atins maxime istorice, a avut un caracter preponderent conjunctural, fiind legat intrinsec de nivelul extrem de redus al produciei pe plan mondial. Totui, pe parcursul perioadei 20002007, se poate constata o tendin general de majorare a preului acestui produs agricol, OCDE i FAO previzionnd chiar meninerea acestei tendine pentru perioada 2008-2017. Implicaia major a acestei tendine ascendente a preurilor o reprezint necesitatea de a continua reformele demarate la nivelul PAC, pentru decuplarea politicii agricole de nivelul i structura produciei i orientarea preponderent a politicii agricole spre asigurarea unui nivel rezonabil al veniturilor la nivelul fermierilor. Din perspectiva modului de definire a pieei relevante, analiza efectuat relev criteriile i aspectele specifice de care s-ar putea ine cont pentru definirea pieei relevante n cazurile de nclcare a prevederilor Legii concurenei nr. 21/1996, republicat. Anumite caracteristici specifice ale produsului ar putea justifica definirea unor piee relevante distincte ale grului comun i grului dur, n funcie de caracteristicile individuale ale cazului analizat.

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The indirect intervention of the state, which can free up quantities of wheat from the State Reserve either for stocks refreshing or to cover the deficit recorded on the market, influences prices on the bread wheat market. We appreciate that even if it is covered by the specific legislative framework, the wheat disposal from the State Reserve, through the mechanism of wheat loan to operators selected by direct negotiation, distorts competition, especially by creating an economic and financial advantage to the selected operator. This especially because the loan is made during the final of the agricultural year, when prices reach high levels and the wheat refund is made at the beginning of the next agricultural year, when the price tends to be minimal. Therefore, we recommend as alternative the use of wheat sale mechanism for the reserve refreshing through open, transparent and non discriminatory methods. As regards the wheat trading on the Romanian stock market it has been found that it is hampered by the absence of a functional system of guarantee of deposit certificates. The situation is caused by lack of covering initial capital of Guarantee Fund for certificates of deposit. Certificates of deposit are a negotiable bond, representative of the goods, to order or bearer, transferable without limits or restrictions. In these circumstances, the certificate of deposit is a security which is the basis of wheat trading, especially on the stock market, but also beyond. With the failure of the Fund, such security does not provide sufficient guarantees regarding the real existence of quantities of wheat traded at the specified quality, which undermines the confidence of potential participants in the operation and limits the wheat commercialization only at the transactions which involve presence of traded quantities.

We consider as desirable the identification by MAFRD of solutions to support the functioning of this fund, because the stock exchange trading of wheat would have as effect the easy marketing of this product and the assurance of greater transparency, by increasing the access to information on price developments for market participants. As regards the price developments for wheat, it was found that the situation in year 2007, when they reached the historical maximum, has a predominantly short term nature, and is intrinsically linked to extremely low levels of worldwide production. However, during 20002007, it was found a general trend of increase in price of this agricultural product, and OECD and FAO predicts maintain of this trend for the period 2008-2017. Major implication of this upward trend of prices is the need to continue reforms initiated in the CAP for decoupling the , agricultural policy by production level and structure and for the predominant orientation of agricultural policy to ensure a reasonable level of income to the farmers. From the perspective of how to define the relevant market, analysis reveals specific criteria and issues that could be took into account for definition of relevant market in cases of infringement of the Competition Law no. 21/1996, republished. Certain characteristics of the product could justify the definition of distinct relevant markets for common wheat and durum wheat, according to individual characteristics of the case examined.

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Tr e b u i e r e m a r c a t c , n c o n d i i i l e substituibilitii extrem de reduse a grului de panificaie, eventualele nelegeri asupra preurilor pot produce efecte de amploare asupra pieei respective i a celor din aval. Aceste efecte pot fi amplificate i de asimetria preurilor, caracteristic pieelor agricole, inclusiv pieei produciei i comercializrii grului, care se manifest prin majorarea preurilor produselor din aval odat cu majorarea preului grului, dar i prin meninerea la cote ridicate a preului produselor din aval n cazul diminurii preului grului. De asemenea, n special datorit asimetriei n puterea de negociere i a comportamentului diferit al exploataiilor agricole individuale fa de productorii instituionali, n anumite circumstane poate fi justificat segregarea pieei relevante a produsului n funcie de diversele categorii de ofertani, respectiv considerarea unei piee relevante distincte a primei comercializri a grului de panificaie. Nu n ultimul rnd, studiul ntreprins demonstreaz faptul c piaa serviciilor de depozitare a grului se caracterizeaz prin existena unor bariere legale semnificative la intrarea pe pia, bariere justificate, pe de o parte, de necesitatea asigurrii unui serviciu de calitate i, pe de alt parte, de importana acestui serviciu n tranzacionarea grului, avnd n vedere c certificatele de depozit sunt titluri negociate pe piaa bursier. Pe piaa serviciilor de depozitare a grului acioneaz un numr relativ mare de operatori dar, n acelai timp, se remarc i existena unor zone ale teritoriului Romniei acoperite de un singur operator economic. n ceea ce privete tarifele practicate pe aceast pia, perioada analizat pare a fi caracterizat de o uoar tendin ascendent. Legat de modul de definire a pieei relevante, n funcie de circumstanele analizate, serviciul de depozitare a grului ar putea fi definit ca o pia

distinct, sau ar putea fi inclus n piaa relevant a serviciilor de depozitare a cerealelor, avnd n vedere c, cel puin din punct de vedere al ofertei, serviciile sunt substituibile. n oricare dintre situaii, zona geografic n care se manifest concurena este reprezentat de o zon circular n jurul fiecrui depozit, cu o raz evaluat de purttorii ofertei a fi ntre 25 i 60 de kilometri. i n acest caz poate fi avut n vedere, n funcie de circumstanele analizate, definirea unei piee relevante a produsului n ceea ce privete exploataiile agricole individuale. Nu putem ncheia prezentarea acestor concluzii, fr a specifica faptul c autoritatea de concuren a iniiat un proces de dezbatere public a acestui raport i a sesizat factorii decideni cu privire la problemele identificate. Soluionarea acestora ine n primul rnd de necesitatea respectrii i aplicrii legislaiei n vigoare, precum i de monitorizarea permanent a sectorului cerealelor de panificaie, n vederea evitrii manifestrii unor posibile distorsiuni pe pia.

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It should be noted that under the extremely low substitutability of wheat bread, the possible agreements on price may produce large effects on that market as well as those downstream. These effects can be amplified by price asymmetry, characteristic of agricultural markets, including wheat production and trade market, which is manifested by increasing prices of downstream products at the same time with the increase in wheat prices, but also by maintaining the high rates of product price in the downstream if wheat prices decline. Also, mainly due to asymmetry in negotiating power and different behavior of individual holdings to institutional producers, in certain circumstances can be justified the segregation of the relevant product market according to different categories of bidders, respectively the consideration of a separate relevant market for first trading of wheat bread. The study undertaken shows that wheat warehousing market is characterized by the existence of significant legal barriers to market entry. These are justified, on the one hand, by the need to ensure quality service and, on the other hand by the importance of the service in wheat trading, given that certificates of deposit are securities traded on the stock market. In wheat warehousing services market act a relatively large number of operators, but at the same time there are areas of Romanian territory covered by a single operator. Regarding tariffs in this market, the period under review appears to be characterized by a slight upward trend. On how to define the relevant market, depending on the circumstances under consideration, the wheat warehousing service could be defined as a distinct market, or could be included in the relevant market for grain warehousing services, given that, at least in terms of supply, these services are substitutable. In any case, the

geographical area in which competition appear is represented by a circular area around each warehouse, with an radius estimated by the bearers of supply between 25 and 60 km. And in this case, depending on the circumstances under consideration, can be considered the definition of a relevant product market in terms of individual farms. We can not conclude the presentation of these findings, without specifying that the competition authority has initiated a process of public discussion of the report and has informed the decision-makers of the identified problems. Their solving depends primarily by the need to respect and to implement the existing legislation and by the ongoing monitoring of grain bakery sector in order to avoid occurrence of possible market distortions.

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EVOLUII RECENTE N POLITICA SUA N DOMENIUL CONCURENEI


Cristina HAVRI87
Rezumat n acest articol vom analiza evoluiile recente ale politicii americane n domeniul concurenei, implementarea acesteia de ctre instituiile cu atribuii n acest domeniu (Direcia Antitrust a Departamentului american de Justiie i Comisia de Comer Federal), precum i interpretarea legislaiei de ctre Curile de Justiie americane. Termenii si principali sunt cuprini n Actele Sherman, Clayton i Actul Comisiei Federale de Comer de la sfritul secolului XIX i nceputul secolului XX i au vizat, n general, trei componente: nelegerile dintre firme care au n vedere restrngerea comerului, abuzul de poziie dominant, controlul operaiunilor de concentrare sau al fuziunilor. Totodat, reglementrile n domeniul concurenei au evoluat prin intermediul unor decizii ale Curilor de Justiie americane prin care s-a interpretat legislaia, precum i ca urmare a prioritilor i liniilor directoare ale ageniilor de implementare. Cuvinte cheie: politica SUA n domeniul concurenei, sistem dual de implementare, Comisia Federal de Comer, Direcia Antitrust a Departamentului de Justiie american, Comisia de Modernizare a Legislaiei, amenzi penale.

Prima lege american n domeniul concurenei adoptat la nivel federal, respectiv Actul Sherman din 1890 a aprut ntr-un context istoric special, acela al unei perioade caracterizate de un proces de cretere a numrului de concentrri industriale sau a trusturilor n diferite sectoare, ca cel al petrolului, siderurgic sau industriei electrice, procesare carne, zahr, plumb, tutun i praf de puc i pe fondul depresiunii economice severe din anii 1880. Astfel, organizaiile de fermieri, sindicatele, precum i micii ntreprinztori s-au unit pentru a promova o lege care s i protejeze de puterea economic a acestor noi trusturi. Exist dou seciuni importante ale Actului Sherman. Seciunea 1 interzice contractele, combinaiile i conspiraiile de restricionare a comerului ntre statele federale sau cu state tere. Seciunea 2 interzice monopolizarea, ncercrile de monopolizare, i combinaiile sau conspiraiile de
87 Cristina Havri,ataat pe probleme de energie n cadrul Reprezentanei Permanente a Romniei pe lng Uniunea European;doctorand n Relaii Economice Internaionale la Academia de Studii Economice din Bucureti; 88 Site-ul Directiei Antitrust a Departamentului de Justiie este

monopolizare a oricrei pri de comer ntre state, i cu state tere. Penalitile pentru cei care ncalc legea pot fi nchisoare i/sau amenzi. A fost creat o agenie de implementare a legii Sherman care s supravegheze punerea n aplicare a acesteia, respectiv Direcia Antitrust a Departamentului american de Justiie88. Aceast Direcie ancheteaz nclcrile grave ale legilor n domeniul concurenei prin acionarea n justiie care poate conduce la perceperea de amenzi ridicate i la condamnarea la nchisoare a acuzailor. Este ns ameninarea potenial a firmelor i indivizilor cu amenzi penale federale i cu procese private pentru daune cea mai puternic modalitate de descurajare mpotriva nelegerilor? Se pare c da, potrivit unor studii ca cele ale lui Block, Nold i Sidak89. In ultima perioad, Direcia
http://www.usdoj.gov/atr/ 89 Block, M.K., Nold, F.C., Sidak, J.G. (1981), The Deterrent Effect of Antitrust Enforcement, Journal of Political Economy 89, June, pp. 429-45.

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RECENT DEVELOPMENTS IN THE UNITED STATES COMPETITION POLICY


Cristina HAVRI90
Abstract91 In this article, we will analyse the recent developments of the American competition policy, its implementation by the institutions having competences in this field (Antitrust Division of the Department of Justice and Federal Trade Commission), as well as the interpreting of legislation by the American Courts of Justice. Its main terms are included in the Sherman Act, Clayton Act and the Federal Trade Commission Act adopted at the end of the XIXth century and the beginning of XXth century. They aimed, basically, at regulating three components: restrictive practices, abuse of dominant position, control of concentration and of mergers. At the same time, the regulations in the field of competition have evolved through decisions of the American Courts of Justice that interpreted the legislation, as well as through priorities and guidelines of the implementing agencies. Keywords: US competition policy, dual system of implementation, Federal Trade Commission, Antitrust Division of the American Department of Justice, Antitrust Modernization Commission, penal fines.

The first American piece of law in the field of competition, adopted at federal level, the Sherman Act of 1890, was issued within a special historic context, that of a period characterised by a process of increased number of industrial concentration or of trusts in different fields, such as oil, steel, electricity, meat processing, sugar, lead, tobacco, gunpowder, as well as of a severe economic depression in the 1880s. Thus, the farmer's organizations, trade unions, as well as the entrepreneurs were united to promote a law to protect them from the economic power of those new trusts. There are two important sections of the Sherman Act. Section 1 prohibits the contracts, combinations and conspiracies of restricting the trade between the federal states or with other states. Section 2 forbids the monopolization, the attempts to monopolize, as well as the
90 Cristina Havri is energy attach with the Romanian Permanent Representation to the European Union and a PhD candidate at the Faculty of International Economic Relations at the Academy of Economic Studies in Bucharest. 91 Translated into English by Cristina Havri.

combinations or conspiracies to monopolize of any trade part between the states, or with other states. The penalties for those who break the law can be prison and/or fines. An implementing agency of the Sherman Act has been created in order to supervise its application, respectively the Antitrust Division of the Department of Justice92. This Division investigates the serious infringements of the competition laws by bringing them to justice, which could lead to collecting high fines and sentencing the accused to jail. Is the potential threat of the firms and of individuals with federal penal fines the strongest deterrent against agreements? It appears to be so, according to some studies of Block, Nold and Sidak93. Lately, the Antitrust Division of the

92 The website of the Antitrust Division of the American Department of Justice is http://www.usdoj.gov/atr/. 93 Block, M.K., Nold, F.C., Sidak, J.G. (1981), The Deterrent Effect of Antitrust Enforcement, Journal of Political Economy 89, June, pp. 429-45.

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Antitrust a Departamentului de Justiie a ncercat s consolideze aceast descurajare prin impunerea unor amenzi mai mari pe corporaii pentru fixarea preurilor i prin extinderea folosirii programului de clemen pentru firmele care i dezvluie rolul jucat ntr-o conspiraie i coopereaz cu guvernul. Dup 1994, nclcrile actului Sherman au condus la amenzi penale n valoare de cel puin 10 milioane dolari pentru fiecare caz i 11 amenzi n valoare de cel puin 100 milioane dolari fiecare caz. Cea mai mare amend, n valoare de 500 milioane dolari a fost cea impus firmei F. Hoffmann-La Roche. In ceea ce privete pedeapsa cu nchisoarea aplicat indivizilor care au nclcat legislaia n domeniul concurenei, n 2007, 87%

dintre acuzai n procesele intentate de Direcia Antitrust a Departamentului de Justiie au fost 94 condamnai la nchisoare . ncepnd cu anul 2000, mai mult de 150 indivizi au fcut nchisoare ca urmare a unei sentine n cazurile intentate de Direcia Antitrust a Departamentului de Justiie. Remarcm faptul c aceast infracionalizare a comportamentului indivizi reprezint una din caracteristicile modelului american de aplicare a politicii n domeniul concurenei, att contravenional, prin amenzi, ct i penal, prin impunerea unor termene de detenie.

Tabelul nr. 1. Investigaii iniiate de Departamentul de Justiie


Investigaii iniiate Sherman cap. 1 -restrngerea comerului Sherman cap.2 - Monopol 1999 74 6 2000 85 10 2001 84 10 2002 95 13 2003 137 11 2004 79 7 2005 118 8 2006 104 3 2007 77 6 2008 76 -

Tabelul nr. 2. Amenzi n valoare de peste 100 milioane de dolari percepute de Departamentul american de Justiie, Direcia Antitrust95
Firma incriminat F. Hoffmann -La Roche, Ltd. (1999) Korean Air Lines Co., Ltd. (2007) British Airways (2007) Samsung Electronics Company, Ltd.;Samsung Semiconductor, Inc. (2006) BASF AG (1999) Hynix Semiconductor, Inc. (2005) Infineon Technologies AG (2 004) SGL Carbon AG (1999) Mitsubishi Corp. (2001) UCAR International, Inc. (1998) Archer Daniels Midland Co. (1996)
94 Discursul lui Scott Hammond, asistent adjunct al Ministrului Justiiei, responsabil cu implementarea n materie penal a legislaiei n domeniul concurenei, cu titlul Recent Developments, Trends, and Milestones in the Antitrust Division's

Domeniul de activitate Vitamine Transport aerian Transport aerian Semiconductori Vitamine Semiconductori Semiconductori Electrozi de grafit Electrozi de grafit Electrozi de grafit Acid citric i lysin

Valoarea amenzii (milioane dolari) 500 300 300 300 225 185 160 135 134 110 100

Criminal Enforcement Program,p.12, discurs disponibil la adresa: http://www.usdoj.gov/atr/public/speeches/232716.pdfop.cit. 95 Scott Hammond, op.cit., p. 12.

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Department of Justice has tried to strengthen this deterrence by imposing increasing fines for corporations in order to fix prices and to extend the use of leniency programme for the companies that disclose their part played in a conspiracy and cooperate with the government. After 1994, the infringements of the Sherman Act led to penal fines in the amount of at least 10 million dollars for each case and 11 fines in value of at least 100 million dollars for each case. The highest fine, in value of 500 million dollars was that imposed to Hoffmann-La Roche. As regards the jail penalty imposed to the individuals that broke the competition law, in 2007, 87% of the accused in

the actions brought to justice by the Antitrust Division of the Department of Justice were imprisoned96. Starting with 2000, more than 150 individuals were sent to jail, following a sentence in the cases brought to justice by the Antitrust Division of the Department of Justice. We note the fact that this criminalization of the individual behaviour is one of the characteristics of the American model of implementing the competition policy, through fines as well as through imposing detention terms.

Table No. 1. Proceedings initiated by the Department of Justice


Investigations initiated Sherman Act ch. 1 restraint of trade Sherman Act ch.2 - Monopoly 1999 74 6 2000 85 10 2001 84 10 2002 95 13 2003 137 11 2004 79 7 2005 118 8 2006 104 3 2007 77 6 2008 76 -

Table No. 2. Fines situated above the value 100 million dollars collected by the Department of Justice, Antitrust Division97
Incriminated company F. Hoffmann -La Roche, Ltd. (1999) Korean Air Lines Co., Ltd. (2007) British Airways (2007) Samsung Electronics Company, Ltd.; Samsung Semiconductor, Inc. (2006) BASF AG (1999) Hynix Semiconductor, Inc. (2005) Infineon Technologies AG (2004) SGL Carbon AG (1999) Mitsubishi Corp. (2001) UCAR International, Inc. (1998) Archer Daniels Midland Co. (1996)
96

Field Vitamins Air Transport Air Transport Semiconductors Vitamins Semiconductors Semiconductors Graphite electrodes Graphite electrodes Graphite electrodes Citric acid and lysine

Fine (million dollars) 500 300 300 300 225 185 160 135 134 110 100

Address of Scott Hammond, deputy attorney general, in charge with penal implementing of competition policy entitled Recent Developments, Trends, and Milestones in the Antitrust Division's

Criminal Enforcement Program,p.12, speech available at: http://www.usdoj.gov/atr/public/speeches/232716.pdf. 97 Scott Hammond, op.cit., p. 12.

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Chiar i dup adoptarea Actului Sherman, rmsese totui temerea c interzicerea prevzut de acest act referitor la orice limitare a comerului, ca fiind doar o interzicere a restrngerilor excesive. Aceast insatisfacie a condus la adoptarea, de ctre Congresul American, a dou acte legislative suplimentare n 1914: Actul Clayton98 i Actul Comisiei Federale de Comer99. In fapt, politica american n domeniul concurenei se bazeaz pe trei acte: Actul Sherman, Actul Clayton i Actul Comisiei Federale de Comer, chiar dac acestea vor cunoate de-a lungul timpului amendamente i interpretri diverse. Actul Clayton are o sfer de cuprindere mai bine delimitat, definind mai clar actele anticoncureniale.
Seciunea 2 a acestui act interzice discriminarea n materie de pre n cadrul comerului realizat de un vnztor ntre diferii cumprtori de mrfuri de aceeai categorie i calitate. Seciunea 3 declar ca fiind ilegal pentru orice persoan angajat n comer, n cadrul unui astfel de comer, nchirierea sau vnzarea bunurilor pentru folosirea sau revnzarea n cadrul Statelor Unite cu condiia ca i cumprtorul s nu foloseasc sau s distribuie produsele concurentului vnztorului sau a celui care nchiriaz. Seciunea 6 exclude de la aplicarea legii concurenei organizaiile de agricultur, horticultur i munc, stipulnd faptul c aceste instituii nu vor fi tratate ca i combinaii ilegale sau conspiraii. Seciunea 7 interzice achiziiile de firme al cror efect ar putea fi acela de a slbi substanial concurena sau de a tinde s creeze un monopol. Actul Clayton a scos n afara legii discriminarea de pre, clauzele legate i acordurile referitoare la nelegeri exclusive, precum i la fuziunile ntre firmele concurente. Cu toate acestea, aceste practici erau ilegale numai pentru situaia n care ar slbi substanial concurena sau ar tinde s creeze un monopol. Seciunea 7, care se ocupa de fuziuni, era ineficient n mare parte din cauza existenei unei portie legale.

Clayton interzicea oricrei persoane s fie, n acelai timp, director la dou sau mai multe corporaii care sunt sau au fost concurente pe orice tip de pia, atunci cnd una din aceste corporaii are active de peste 1 milion $. Actul Comisiei de Comer Federal stipuleaz prevederi substaniale n domeniul antitrust n Seciunile 5 i 12, iar n seciunea 8 se creeaz o agenie special (Comisia de Comer Federal) att cu funcii de investigaie, ct i de judecat. Spre deosebire de Direcia Antitrust din cadrul Departamentului de Justiie care reprezint, n fapt, puterea executiv, Comisia de Comer Federal este o autoritate administrativ, cu o anumit independen. Competenele sunt partajate dup cum urmeaz: Comisia de Comer Federal asigur respectul interdiciilor enunate n Actul Clayton i n Actul Comisiei de Comer Federal, n timp ce Departamentul de Justiie asigur aplicarea Actului Sherman, fiind singurul abilitat s aplice amenzi penale. Prin urmare, aciunile penale i civile sunt introduse n instan de Direcia Antitrust a Departamentului de Justiie, iar aciunile civile de implementare i aciunile n daune-interese mpotriva persoanelor sunt introduse n instan de Comisia Federal de Comer. Un caz recent de implementare a legislaiei antitrust, considerat de success, este cel privind cartelul productorilor de vitamine (cazurile din 1999 SUA. c. F. Hoffmann-LaRoche i SUA c. BASF AG). La sfritul anilor '90, Direcia Antitrust a nceput o investigaie cu privire la un cartel al productorilor de vitamine care afecta peste 5 miliarde dolari din comerul american. Dovezile au artat c membrii cartelului ajunseser la acorduri detaliate referitoare la cantitile pe care ar trebui s le produc fiecare companie, preurile pe care ar trebui s le perceap, precum i clienii crora ar trebui s le furnizeze produsele. Cei care au avut de suferit de pe urma cumprrii de produse de la membrii cartelului au fost firme avnd nume importante ca General Mills, Kellogg, Coca-Cola,
http://www.law.cornell.edu/uscode/15/usc_sup_01_15_10_2_20 _I.html.

Ulterior, Actul Hart- Scott- Rodino din 1950 avea s adauge o nou Seciune 7a solicitnd ca anumite achiziii i fuziuni s fie notificate ctre Comisia Federal de Comer i Divizia Antitrust a Departamentului de Justiie. Seciunea 8 a Actului
9 8 Actul Clayton este disponibil pe site-ul http://www.usdoj.gov/atr/foia/divisionmanual/ch2.htm#a1. 99 Actul Comisiei Federale de Comer este disponibil pe site-ul:

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Even after the adoption of the Sherman Act, it remained the fear that the prohibition provided for by this act referring to any limitation of trade, was only a prohibition of excessive restrictive practices. This insatisfaction led to the adoption, by the American Congress, of two additional legal acts in 1914: Clayton Act100 and Federal Trade Commission Act 101 . In fact, the American competition policy is based on three acts: Sherman Act, Clayton Act and Federal Trade Commission Act, even if these will know in time different amendments and interpretations. Clayton Act has a more specific scope, by defining more clearly the anticompetitive acts.
Section 2 of this act prohibits the price discrimination within the trade made by a seller between different buyers of goods of the same category and quality. Section 3 declares as illegal any person engaged in trade, within such trade, leasing or selling the goods in order to be used or to be resold in the United States on the condition that the buyer does not use or distribute the goods to the competitors of the seller or of the leaser. Section 6 excludes from the application of competition law the agriculture organizations, horticulture, labour, by stipulating that these institutions will not be treated as illegal combinations or conspiracies. Section 7 prohibits the company acquisitions the effect of which is to weaken the competition or tend to create a monopoly. The Clayton Act outlawed the price discrimination, agreements referring to exclusive agreements, as well as the mergers between competitors. Nevertheless, these practices are illegal only for the situation in which the competition would be weakened substantially or would tend to create a monopoly. Section 7, dealing with mergers, was inefficient mainly because of a legal escape door.

The Federal Trade Commission Act stipulates substantial provisions in the field of antitrust in Sections 5 and 12, while in Section 8 creates a special agency (Federal Trade Commission) with investigation, as well as trial functions. Unlike the Antitrust Division with the Department of Justice which represents, in fact, the executive power, Federal Trade Commission is an administrative authority, having certain independence. The competences are shared as follows: Federal Trade Commission ensures the observation of prohibitions in the Clayton Act and Federal Trade Commission Act, while the Department of Justice ensures the application of Sherman Act, being the only one entrusted to enforce penal fines. Consequently, the penal and civil actions are brought into justice by the Antitrust Division of the Department of Justice, but the civil actions of implementation and actions for recovery of damages against individuals are brought to justice by Federal Trade Commission. A recent, successful case of implementing the antitrust legislation is the one regarding the cartel of the producers of vitamins (cases of 1999 US v. F. Hoffmann - LaRoche and US v. BASF AG). At the end of 1990's, the Antitrust Division has started an investigation regarding a cartel of the vitamin producers which affected over 5 billion dollars of the American trade. The evidence showed that the members of the cartel have reached detailed agreements regarding the quantities which each company should produce, their prices, as well as the customers to whom they should supply their products. Those who were affected by the buying of products from the cartel members were companies such as General Mills, Kellogg, CocaCola, Tyson Foods and Procter & Gamble, but also American consumers.

Subsequently, Hart- Scott- Rodino Act of 1950 would add a new Section 7a, by requesting that certain mergers and acquisitions be notified to the Federal Trade Commission and Antitrust Division of the Department of Justice. Section 8 of Clayton Act prohibited any person to be, at the same time, manager for two or more corporations which are or were competitors on any type of market, when any of these corporations has assets over 1 million $.
100

Clayton Act is available at: http://www.usdoj.gov/atr/foia/divisionmanual/ch2.htm#a1.

101

Federal Trade Commission Act is available at: http://www.law.cornell.edu/uscode/15/usc_sup_01_15_10_2_20 _I.html.

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Tyson Foods i Procter & Gamble, dar i consumatorii americani. Aceast investigaie a condus la acuzarea firmelor americane, elveiene, germane, canadiene i japoneze i la trimiterea n nchisoare a unui numr de manageri. Membrilor cartelului le-au fost impuse amenzi de peste 850 milioane dolari, inclusiv o amend record de 500 milioane dolari impuse lui Hoffman La Roche i o amend de 225 milioane dolari impus BASF AG102. Un alt caz recent, de aceast dat de investigare a eventualelor nclcri ale Actului Hart-ScottRodino a fost acela al lui Google/DoubleClick din 2008. n decembrie 2007, Comisia Federal de Comer a anunat c nu va ncerca s blocheze achiziia server-ului Double click de publicitate pe internet de ctre Google Inc. Raiunile invocate au vizat faptul c Google i Double click nu erau concureni direci pe nici o pia concurenial relevant. Cu toate acestea, pentru a rspunde preocuprilor viznd confidenialitatea anumitor date privind consumatorii, Comisia Federal a Comerului a propus celor dou firme respectarea anumitor principii privind confidenialitatea pentru publicitatea online i a solicitat comentarii prilor interesate103. Caracterul dual al sistemului american de implementare a fost subiectul unor dezbateri periodice n societatea american. Criticile au vizat duplicarea inutil care poate conduce la inconsecvena politicilor n domeniul concurenei, poveri administrative suplimentare asupra firmelor, sau alte obstacole n calea implementrii corecte n domeniul concurenei federale. Unii au sugerat eliminarea Comisiei Federale a Comerului, iar alii au propus redistribuirea ntregii responsabiliti de implementare ctre aceast Comisie, Departamentul de Justiie urmnd s acioneze n instan doar nclcrile Actului Sherman. Comisia de Modernizare a Legislaiei n domeniul concurenei, creat n baza unei legislaii emise de Congresul american n 2002 i care i-a ncheiat
102 Raport 'The FTC in 2008: A Force for Consumers and Competition', disponibil la adresa: http://www.ftc.gov/bc/anncompreports.shtm, p. 4 103 Raportul 'The FTC in 2008: A Force for Consumers and Competition', p. 27. 104 Raportul Comisiei de Modernizare a Legislaiei n domeniul

activitatea la 31 mai 2007, avea misiunea declarat de a examina necesitatea modernizrii legislaiei n domeniul concurenei i de a identifica i studia aspectele conexe, de a solicita prerile tuturor prilor implicate n funcionarea legilor n domeniul concurenei, precum i de a evalua oportunitatea propunerilor i aranjamentele curente cu privire la aspectele astfel identificate. La finalul mandatului, a subliniat ns n Raportul su din 2007 adresat Congresului i Preedintelui104, c nu recomand nici o schimbare instituional n actualul sistem dual american de implementare a legilor n domeniul concurenei. n Actul Celler- Kefauver din 1950 care a reformat i a consolidat Actul Clayton, Congresul american a susinut controlul fuziunilor prin interzicerea consolidrilor de active i de aciuni care nu conduceau la poziie dominant. Exist un sistem de pre-notificare al fuziunilor, n baza Actului Consolidat Hart-Scott-Rodino din 1976, a seciunii 13(b) a Comisiei de Comer Federal i a seciunii 15 a Actului Clayton, care permite Comisiei Federale de Comer i Direciei Antitrust a Departamentului de Justiie s protejeze concurena prin identificarea i investigarea acelor fuziuni i achiziii care ridic preocupri importante din punct de vedere al concurenei. n 2008, au fost raportate 1.726 tranzacii, ceea ce reprezint o scdere de 22% fa de anul 2007. Unul din cazurile cele mai semnificative ale Comisiei Federale de Comer a fost cel instrumentat mpotriva unei fuziuni deja produse din Polypore International i Microporous Products n care Comisia Federal de Comer a stabilit faptul c achiziia realizat n februarie 2008 a condus la scderea concurenei i la creterea preurilor pe pieele cu diferite tipuri de film separator de baterie folosit la generatoarele cu baterii. Tot n 2008 Comisia Federal de Comer a mai blocat i fuziunea propus dintre Inova Health System Foundation i Prince William Health System, care adusese prejudicii concurenei n Virginia de Nord pe piaa serviciilor de sntate pentru bolile cronice furnizate de spitale105.
Concurenei, capitolul 2, 2007, p. 129 este disponibil la adresa http://govinfo.library.unt.edu/amc/report_recommendation/toc.htm. 105 Raportul anual Hart-Scott-Rodino pe anul 2008, Seciunea 7A, p. 1-2, disponibil la adresa: http://www.ftc.gov/os/2009/07/hsrreport.pdf.

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This investigation led to incriminating the American, German, Swiss, Canadian and Japanese and sending to jail a certain number of managers. Fines over 850 million dollars were imposed to the members of the cartel, including a record fine of 500 million dollars imposed to Hoffman La Roche and a fine of 225 million dollars imposed to BASF AG106. Another recent case, regarding the investigation of likely infringements of Hart-Scott-Rodino Act was that of Google/DoubleClick in 2008. In December 2007, Federal Trade Commission announced that it will not try to block the acquisition of server DoubleClick of internet advertising by Google Inc. The reasons invoked regarded the fact that Google and Double click were not direct competitors on any relevant market. Nevertheless, in order to answer the concerns about the confidentiality of certain data regarding the consumers, the Federal Trade Commission proposed to the firms the observation of certain principles regarding confidentiality for online advertising and requested comments to the interested parties107. The dual character of the American system of implementation was the topic of serious debates in the American society. The critics regarded the useless duplication which could lead to an inconsistency of the policies in the field of competition, administrative burdens on companies, or other obstacles in the way of fair implementation in the field of federal competition. Some have suggested the elimination of the Federal Trade Commission, while others have proposed the redistribution of the entire implementing responsibility by this Commission, the Department of Justice bringing to justice only the infringement of the Sherman Act. The Antitrust Modernization Commission, created on the basis of a legal act issued by the American Congress in 2002 and which terminated its activity on 31 May 2007, had the declared mission to examine the necessity of modernising the competition legislation and to
106

identify and study the interconnected aspects, to request the opinions of all involved parties in the functioning of the laws in the field of competition, and to assess the opportunity of the proposals as well as the current arrangements regarding the aspects thus identified. At the end of the mandate, this Commission underlined in its 2007 Report addressed to the Congress and to the President108, that it does not recommend any institutional change in the present dual American system of implementation of the competition laws. In Celler- Kefauver Act of 1950 which reformed and consolidated Clayton Act, the American Congress supported the control of mergers by prohibiting the assets consolidation and assets that did not lead to a dominant position. There is a prenotification system of mergers, based on consolidated Hart-Scott-Rodino Act of 1976, of section 13(b) of Federal Trade Commission and of Section 15 of Clayton Act, which allows the Federal Trade Commission and the Antitrust Division of the Department of Justice to protect the competition by identifying and investigating those mergers and acquisitions that raise important concerns from the competition point of view. In 2008, 1,726 transactions have been reported, which represents a decrease of 22% as compared to the year 2007. One of the most significant cases of the Federal Trade Commission was the one brought against an already existing merger between Polypore International and Microporous Products, where Federal Trade Commission established that the acquisition made in February 2008 led to the weakening of competition and to the increase of prices on the markets on battery separators used for battery generators. Also in 2008, the Federal Trade Commission blocked the proposed merger between Inova Health System Foundation and Prince William Health System, which prejudiced competition in North Virginia on the market of health services for chronic diseases supplied by hospitals109.

The FTC in 2008: A Force for Consumers and Competition'Report , available at: http://www.ftc.gov/bc/anncompreports.shtm, p. 4. 107 'The FTC in 2008: A Force for Consumers and Competition'Report, p. 27.

108

Report of Antitrust Modernization Commission, chapter 2, 2007, p. 129 is available at: http://govinfo.library.unt.edu/amc/report_recommendation/toc.htm. 109 Annual Hart-Scott-Rodino Report 2008, Section 7A, p. 1-2, available at : http://www.ftc.gov/os/2009/07/hsrreport.pdf.

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Potrivit raportului anual Hart-Scott-Rodino110, n anul 2008, Divizia Antitrust a Departamentului de Justiie a analizat 16 tranzacii de fuzionare i a concluzionat c, n cazul n care li s-ar fi permis acestora s duc la ndeplinire aceste tranzacii, ar fi avut ca efect reducerea concurenei. 15 cazuri dintre acestea au fost soluionate n afara curii de justiie. Un caz recent este cel SUA c. AT&T Inc. i Dobson Communications Corporation111, pentru care Divizia Antitrust a Departamentului de Justiie a analizat achiziia propus n valoare de 2,8 miliarde dolari a lui Dobson Communications de ctre AT&T. Divizia a apreciat c, n cazul n care ar fi avut loc respectiva tranzacie, aceasta ar fi condus la reducerea substanial a concurenei, n detrimentul consumatorilor rurali ai serviciilor de telecomunicaii fr cablu de pe apte piee din Kentucky, Missouri, Pennsylvania, Oklahoma i Texas. Acest lucru ar fi condus, la rndul su, la preuri ridicate, calitate inferioar i investiii sczute pentru mbuntirea reelei. Mai precis, n aceste zone, fimele aflate n totalitate sau parial n proprietatea AT&T i Dobson ofereau servicii la mai mult de 60% din abonai, iar pe dou din piee unde principalul concurent al lui AT&T opera tot n baza unei licene Cellular One a lui Dobson, AT&T nu ar fi fost stimulat i nu ar fi avut capacitatea de a aduce atingere concurenei prin limitarea liceniatului de a folosi brandul Cellular One n mod eficient. Acest caz a fost introdus n instan n mai 2008. n ceea ce privete activitatea Comisiei Federale a Comerului, n anul 2008 au existat 21 tranzacii pentru care Comisia a considerat c este posibil reducerea concurenei n cazul n care ar avea loc, emind tot attea ordine. Potrivit acestor opinii ale Comisiei, prile fie trebuiau s abandoneze afacerea, fie trebuiau s i modifice afacerea dup primirea informaiilor.

n cazul The Great Atlantic & Pacific Tea Company, Inc./Pathmark Stores Inc112, Comisia Federal a Comerului a analizat achiziia propus a firmei Pathmark Stores de ctre A&P n valoare de 1,3 miliarde dolari care ar fi condus la o reducere substanial a concurenei dintre cele dou firme de supermarket n Staten Island i Long Island, New York. A&P opereaz 316 supermarketuri n 5 state n regiunile de pe coasta Atlanticului i din nordestul SUA, precum i n Districtul Columbia. Pathmark opereaz 141 supermarketuri n patru state. Potrivit plngerii naintate de CFC n justiie, afacerea propus ar fi permis A&P s exercite mai mult putere pe pia i s ridice preurile pentru diferite alimente, ceea ce ar fi condus la un comportament similar din partea operatorilor din Staten Island i Long Island, care ar fi interacionat n mod coordonat. Pentru a remedia aceste preocupri, CFC a emis un ordin prin care solicita AP&P s vnd ase locaii de supermarket de pe pieele foarte concentrate ale New Yorkului113. n contextul crizei economice mondiale nceput n anul 2007, analitii Institutului American 114 pentru Antitrust , au considerat c se impun i o serie de msuri instituionale i legislative n domeniul concurenei, propuneri care au fost naintate Congresului American n martie 2009. Acestea vizeaz, n primul rnd, crearea unei poziii de asistent adjunct al ministrului justiiei, n cadrul Direciei Antitrust a Departamentului American de Justiie, a crui numire s fie aprobat de Senat i care s aib misiunea de a participa la elaborarea politicii naionale cu impact asupra concurenei. n al doilea rnd, analitii consider c trebuie avut n vedere iniierea, de ctre Congresul american, a unei legislaii care s dea oportunitatea executivului de a opri formarea de noi organizaii care s fie prea mari pentru a li se putea permite s falimenteze (too big to fail) i care s faciliteze luarea unor decizii mult mai rapide de aprobare, de ctre Preedinte, a fuziunilor n cadrul sistemului de pre-notificare a acestora.

110 Raportul Hart Scott Rodino din anul 2008, disponibil la adresa http://www.ftc.gov/os/2009/07/hsrreport.pdf. 111 Detalii privind instrumentarea cazului sunt disponibile la adresa http://www.usdoj.gov/atr/cases/dobson.htm. 112 Cazul este disponibil la adresa: http://www.ftc.gov/os/caselist/0710120/index.shtm. 113 P 16. . 114 Institutul American petru Antitrust este o organizaie independent, non-profit, cu sediul la Washington, care are ca

misiune creterea rolului politicii n domeniul concurenei. A fost nfiinat n aprilie 2008. Propunerile Institutului Statement of Albert a. Foer President, American Antitrust Institute, Before the US House of Representatives Judiciary Committee, Subcommittee on Courts and Competition Policy Too big to fail? The role of Antitrust in Government- funded Consolidation in the Banking Industry , March 17, 2009, disponibil pe site -ul http://www.antitrustinstitute.org.

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According to the 2008 Annual report Hart-ScottRodino, the Antitrust Division of the Department of Justice analysed 16 merger transactions and concluded that, in case they had been allowed to finalise those transactions, it would have led to a reduction of competition. 15 such cases were solved outside courts. A recent case is that of US v. AT&T Inc. and Dobson Communications Corporation115, for which the Antitrust Division of Department of Justice analysed the proposed acquisition in value of 2.8 billion dollars of Dobson Communications by AT&T. The Division appreciated that, in case the respective transaction had taken place, it would have led to substantially reducing the competition, to the detriment of rural consumers of telecommunication services without cable on seven markets in Kentucky, Missouri, Pennsylvania, Oklahoma and Texas. This would have led, at its turn, to high prices, bad quality, and low investments for improving the network. More precisely, in these areas, the companies owned totally or partially by AT&T and Dobson supplied services for more than 60% of the subscribers, and on two of those markets where the main competitor of AT&T operated based on a Cellular One license of Dobson, AT&T would not have been stimulated and would not have the capacity to affect competition by limiting the licensee to use the Cellular One brand efficiently. This case was brought to justice in May 2008. As regards the activity of the Federal Trade Commission, in 2008 there were 21 transactions for which the Commission considered that it is possible to reduce competition in case they would take place, by issuing an equal number of orders. According to these opinions of the Commission, the parties were supposed either to abandon the acquisition, or to alter it after receiving the information.

In the case The Great Atlantic & Pacific Tea Company, Inc./Pathmark Stores Inc116, the Federal Trade Commission analysed the acquisition proposed of the company Pathmark Stores by A&P in value of 1.3 billion dollars which would have led to a substantial reduction of competition between the two supermarket brands in Staten Island and Long Island, New York. A&P operated 316 supermarkets in 5 states in the Atlantic coastal region and in the North East of US, as well as in District of Columbia. Pathmark operated 141 supermarkets in four states. According to the complaint brought by Federal Trade Commission to justice, the proposed acquisition would have allowed A&P to exert more power on the market and to increase the prices for different types of foodstuff, which would have led to a similar behaviour from operators in Staten Island and Long Island, which would have reacted in a coordinated manner. In order to remedy these concerns, the Federal Trade Commission issued an order through which it requested AP&P to sell six supermarket locations on the very concentrated markets of New York117. In the context of the global economic crisis started in 2007, the analysts of the American Antitrust Institute 1 1 8 , considered that a series of institutional and legal measures in the field of competition are imposed, proposals that were forwarded to the American Congress in March 2009. These aim at, first, creating the position of deputy assistant of the attorney general, with the Antitrust Division of the American Department of Justice, the nomination of which to be approved by the Senate and which has the mission to take part to drafting the national policy with impact on competition. Second, the analysts consider the Congress should have in mind the initiation of a legislation which would give the opportunity to the executive to stop the creation of new organisations too big to fail and which should facilitate the taking of some more rapid decisions of approval, by the President, of mergers within the prenotification.
mission the increase of the role of competition policy, it was established in April 2008. Statement of Albert a. Foer President, American Antitrust Institute, Before the US House of Representatives Judiciary Committee, Subcommittee on Courts and Competition Policy Too big to fail? The Role of Antitrust in Government-funded Consolidation in the Banking Industry, March 17, 2009, available at http://www.antitrustinstitute.org.

115

Details regarding the case are available at http://www.usdoj.gov/atr/cases/dobson.htm. 116 The case is available at http://www.ftc.gov/os/caselist/0710120/index.shtm. 117 P 16. . 118 The American Antitrust Institute is a non-profit, independent organization, with the headquarters in Washington, having as

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Bibliografie
Antitrust Modernization Commision (2007), Report and Recommendations, disponibil la adresa: http://govinfo.library.unt.edu/amc/report_recommenda tion/toc.htm; Block, M.K., Nold, F.C., Sidak, J.G. (1981), The Deterrent Effect of Antitrust Enforcement, Journal of Political Economy 89, June, pp. 429-45; Federal Trade Commission& Department of Justice (2008), Hart-Scott-Rodino Report, disponibil la adresa: http://www.ftc.gov/os/2009/07/hsrreport.pdf; Federal Trade Commission (2008), The FTC in 2008: A Force for Consumers and Competition, disponibil la adresa http://www.ftc.gov/bc/anncompreports.shtm: Neale, A. , Goyder, D.G., (1980) The Antitrust Laws of the United States of America, 3rd ed. (Cambridge University Press); Whish, R (2003), Competition Law, 5th edition (London: Butterworth).

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References
Antitrust Modernization Commission (2007), Report and Recommendations, available at: http://govinfo.library.unt.edu/amc/report_recommendatio n/toc.htm; Block, M.K., Nold, F.C., Sidak, J.G. (1981), The Deterrent Effect of Antitrust Enforcement, Journal of Political Economy 89, June, pp. 429-45; Federal Trade Commission& Department of Justice (2008), Hart-Scott-Rodino Report, available at: http://www.ftc.gov/os/2009/07/hsrreport.pdf; Federal Trade Commission (2008), The FTC in 2008: A Force for Consumers and Competition, available at: http://www.ftc.gov/bc/anncompreports.shtm: Neale, A. , Goyder, D.G., (1980) The Antitrust Laws of the United States of America, 3rd ed. (Cambridge University Press); Whish, R (2003), Competition Law, 5th edition (London: Butterworth).

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POLITICA I LEGEA CONCURENEI N CONTEXTUL ACTUALELOR PROVOCRI ECONOMICE LA NIVEL GLOBAL


Daniela ELEODOR119
Motto While I have been a lifelong capitalist, I could never accept that laissez faire is a good solution for a society. It was John Ralston Saul who said that "unregulated competition is just a nave metaphor for anarchy" we don't need that. What we need are regulated markets. And the challenge is to maximise our prosperity by finding the most efficient ways to regulate them120. Rezumat Criza financiar global se propag cu rapiditate n economia real n care bunuri i servicii, altele dect cele financiare, se realizeaz i tranzacioneaz. Economiile rilor din ntreaga lume resimt n mod diferit efectele crizei, ns ar fi o eroare ca rile s-i protejeze status quo-ul cu preul afectrii concurenei. Istoria economic a politicii antitrust confirm din plin aceast afirmaie. Pe baza unei analize n retrospectiv, prezenta lucrare i propune s evidenieze acele instrumente legale ale politicii si legii concurentei prin care autoritile de concuren pot contribui la ameliorarea efectelor crizei economice si financiare actuale. Cuvinte cheie: recesiune, globalizare, concuren, ajutor de stat , instituii financiare. Impactul crizei financiare i economice actuale asupra politicii de concuren O recesiune are potenialul de a fi inamicul concurenei i al politicilor care o susin pentru o serie raiuni. n primul rnd, concurena furnizeaz cele mai bune rezultate atunci cnd determin eficiena sporit. ns aceasta necesit timp. Altfel spus, concurena poate atinge aceast int numai n parte, prin facilitarea intrrii de noi firme eficiente i nlturarea celor ineficiente de pe pia. n al doilea rnd, piee concureniale i n special inovatoare produc adeseori valori mai bune pentru consumatori. Prin contrast, ntr- o recesiune, sunt necesare aciunile pe termen scurt iar ieirea de pe pia a firmelor falimentare poate fi privit ca fiind
119 Inspector de concuren, Direcia Relaii Externe i Integrare European. 120 Declaraia d-nei Neelie Kroes, Comisar European pentru

mai scump pentru societate, n special dac firmele sunt concentrate n aceeai arie local. n fapt, costurile imediate pe care trebuie s le plateasc firmele, angajaii i consumatorii, ca urmare a respectrii regulilor de concuren sunt mai vizibile n timp ce beneficiile concurenei sunt amnate i mai puin vizibile. Pe acest fundal, recesiunea duce la creterea presiunii publice asupra politicienilor pentru ca acetia s intervin pentru a salva firmele aflate n impas, s controleze omajul i vulnerabilitatea consumatorilor. n afar de impactul asupra economiei reale, prbuirea creditrii afecteaz ncrederea consumatorilor n piee concureniale.

Concuren n faa Clubului Economic de la Toronto, Competition, the crisis and the road to recovery, 30.03.2009.

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COMPETITION LAW AND POLICY IN THE CONTEXT OF THE CURRENT ECONOMIC ENVIRONMENT IN DISTRESS AT GLOBAL LEVEL
Daniela ELEODOR121
Motto While I have been a lifelong capitalist, I could never accept that laissez faire is a good solution for a society. It was John Ralston Saul who said that "unregulated competition is just a nave metaphor for anarchy" we don't need that. What we need are regulated markets. And the challenge is to maximise our prosperity by finding the most efficient ways to regulate them122. Abstract123 The global financial crisis is spilling over into the real economy where goods and non-financial services are made and traded. Different economies are affected differently. But trying to protect the status quo by dampening competition would be an error. The economic history of antitrust confirms this assumption. On the basis of a retrospective assessment, the present papers intends to draw upon the competition law and policy possible legal responses to the challenges posed by the current economic and financial crisis. Keywords: recession, globalization, competition, State aid, financial institutions.

The impact of the present financial and economic crisis over competition policy A recession has the potential to be inimical to the competition and the policies that support it, for several reasons. First, competition policy works well when markets are given time to evolve and drive improved efficiency; but this takes time. Put it differently, competition policy may attain this goal only in part by enabling the entry of new efficient firms and the exit of inefficient firms. Second, competitive, and especially innovative, markets often produce better value for consumers. On the contrary, in a recession, the short-run survival actions may be insistently sought and the exit of failing firms may be perceived to be more
121 Competition inspector, Directorate of International Relationships and European Integration. 122 Statement of Neelie Kroes, European Commissioner for

costly for society, especially if they are concentrated in the same local area. Actually, the immediate costs that existing businesses, employees and consumers have to incur may be up-front and visible, while the benefits of competition are delayed and less visible. Against this backdrop, the recession leads to increased public pressure over politicians to intervene in order to save failing firms and to counteract unemployment and consumer vulnerability. Aside from its impact on the real economy, the credit-crunch alters consumers' confidence in competitive market to deliver positive outcomes.

Competition at the Economic Club Toronto, Competition, the crisis and the road to recovery, 30.03.2009. 123 Translated in to English by Daniela Eleodor.

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Dup cum afirma David Lewis orice cretere de pre ar putea genera suspiciunea publicului i a oficialilor cu privire la un posibil comportament de tip cartel cnd, n realitate, aceast cretere s-ar putea datora multor altor cauze. Orice pia unde exist o firm dominant ar putea fi suspectat c reflect comportament monopolistic de excludere sau de exploatare, chiar dac barierele la intrarea pe pia sunt reduse sau un grad neobinuit de dinamism tehnologic transform pieele monopolizate n piee contestabile, adic relativ protejate de exercitarea puterii de pia124. Cu toate acestea, o criz poate s invite firmele la comportamente anticoncureniale. Cartelurile sau monopolurile pot s ncerce s profite de pe urma mediului economic degradat. Furnizorii care nu au putere de pia pot s dobndeasc o putere de pia substanial n perioade de criz pe pia i prin urmare, pot mri preurile pentru o perioad considerabil, atunci cnd firme concurente se confrunt cu probleme de capacitate de producie i nu pot reaciona. Pe de alt parte, se pot face presiuni pentru acceptarea concentrrilor economice care sunt n esen anticoncureniale, cu scopul de a salva firme aflate n dificultate sau de a crea campioni naionali. De aceeai manier, se pot exercita presiuni i pentru legalizarea cartelurilor de export sau chiar a cartelurilor de recesiune, tot cu scopul de a salva firme naionale n dificultate sau de a le acorda un avantaj pe piaa de export. Ca mrturie n acest sens stau i reaciile mai recente ale Europei i ale SUA la dificultile de pe pieele financiare. Astfel, guvernul Mrii Britanii a autorizat, fr s in seama de autoritatea de concuren, fuzionarea bancii Lloyds cu Hbos125, o concentrare economic care nu ar fi fost aprobat cu cateva luni n urm. De asemenea, irul de concentrri economice facilitate de trezoreria SUA va lsa SUA cu piee financiare nalt concentrate126.

De asemenea, se manifest presiuni pentru intervenia activ a statului n ajutorarea firmelor aflate n dificultate, prin intermediul politicii industriale. Exemplele abund deja. Comisia European se afl sub presiunea intens a liderilor politici ai guvernelor Statele Membre UE de a relaxa restriciile n ceea ce privete acordarea ajutoarelor de stat naionale. n special, preedintele Sarkozy a cerut o relaxare a regulilor comunitare n domeniul ajutorului de stat care s permit guvernului sau s subvenioneze industria auto francez. La aceast provocare, UE d dovad de o atitudine ferm de lupta mpotriva protecionismului economic, cu scopul de a susine fluxurile comerciale globale i de consecven, prin susinerea beneficiilor acordrii de ajutor de stat pentru obiective orizontale cum ar fi cercetare i dezvoltare, instruire profesional i proiecte de mediu, ca cele mai sigure msuri pentru sprijinirea firmelor aflate n dificultate. Prin contrast, n Statele Unite, guvernul SUA a procedat deja la sfritul anului trecut la subvenionarea GM i Chrysler, cu scopul revigorrii sectorului auto. Mai recent, salvarea companiei de asigurri AIG de la colaps financiar de ctre guvernul Statele Unite demonstreaz deja efectele nocive ale aplicrii unei politici protecioniste seclective. Astfel, concurenii companiei AIG au nceput s-i arate public nemuluimirea cu privire la faptul c imediat dup primirea unui ajutor financiar de 173, 3 mld. de dolari, compania a trecut la practicarea unei politici agresive de reducere a tarifelor, la unele servicii din portofoliu, nregistrndu-se o scdere a preurilor cu mai mult de 30%127.

124 Lewis, David, Competition Law and Policy in Bad Times, speech before the DPRU (Development Policy Research Unit), Conference on Regulation, Johannesburg, 2008, October. 125 Marea Britanie, Oficiul pentru comer loial. OFT statement on proposed merger between Lloyds TSB and HBOS, Comunicat de pres 108-08, 18 septembrie 2008. 126 A se consulta Degryse i Ongena, care, n Competition and

Regulation in the Banking Sector: A Review of the Empirical Evidence on the sources of bank rents, publicat n A. Thakor and A. Boot (eds.), Handbook of Financial Intermediation and Banking, Elsevier, analizeaz literatura cu privire la consolidare i consecinele consolidrii sistemului financiar (2008, p. 483-542). 127 USA Inc : AIG's Rivals blame bailout for tilting insurance game, Wall Street Journal, 2009, March, 23.

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As David Lewis stated, Hence every price shock will generate public and official suspicion of cartel conduct when in truth they may reflect rising input prices which may in turn be the outcome of many influences. Every market subject to single firm domination will be presumed to reflect exclusionary or exploitative monopolistic conduct even if low entry barriers or an unusual degree of technological dynamism render the monopolized markets subject to contestability and so relatively protected from the exercise of market power128. However, a crisis could invite companies to circumvent competition rules by recurring to anticompetitive conducts. Cartels or monopolies may take advantage from a distressed economic environment. Suppliers with no market power may achieve substantial market power during periods of market crisis and therefore, they may increase prices for a considerable period of time, when their rivals are capacity constrained and cannot react. On the other hand, pressure may be made to allow for mergers that are in nature anti-competitive in order to save failing firms or to create 'national champions'. By the same token, pressures may be exerted to legalize export cartels or even recession cartels in order to save troubled domestic firms or to provide them with an advantage in the export market. The more recent reactions of Europe and USA to the credit crunch may constitute examples of current competition law and policy challenges. Hence, the UK government permitted, without consulting with its competition authority, the merger of Lloyds and HBOS129, a merger which would not have passed the competition test a few months ago. Further, the chain of mergers facilitated by the US treasury will leave the US with highly concentrated financial markets130.

There are as well pressures for increased state intervention in order to support failing businesses, through industrial policies. Examples already abound: the European Commission is under the intense pressure of the EU Member States political leaders to relax the policy restrictions imposed on national state aid. President Sarkozy, in particular, has pleaded for a relaxation of European state aid rules that would enable his government to subsidise the French automobile industry. However, EU continues to show off a determined stance against economic protectionism in order to back the global trade flows. A consistent approach is as well observable. State aid for horizontal objectives such as aid for research and development, training and environmental projects are thus considered as the most effective measures for supporting the firms in difficulty. On the contrary, in the US, the Government has already granted financial assistance to GM and Chrysler with a view to rescuing the national automobile industry. More recently, saving AIG insurance company from financial collapse already proves the negative effects of applying a selective protectionist policy. Thus, the rivals of AIG Company have already expressed publicly their discontent with the fact that immediately after receiving a financial aid of 173.3 billion dollars, the company began to apply an aggressive policy of cutting the fees for some services in its portfolio, causing a fall in prices of more than 30%131.

128 Lewis, David, Competition Law and Policy in Bad Times, speech before the DPRU (Development Policy Research Unit), Conference on Regulation, Johannesburg, 2008, October. 129 Great Britain, OFT statement on proposed merger between Lloyds TSB and HBOS, Press release 108-08, 2008, September 18. 130 See Degryse and Ongena, who in Competition and Regulation in

the Banking Sector: A Review of the Empirical Evidence on the sources of bank rents, published in A. Thakor and A. Boot (eds.), Handbook of Financial Intermediation and Banking, Elsevier, assess the whole literature with respect to the consolidation of the financial system and its consequences (2008, p. 483-542). 131 USA Inc: AIG's Rivals blame bailout for tilting insurance game, Wall Street Journal, 2009, March, 23.

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Efectele negative ale msurilor protecioniste ale guvernelor se pot constata i n Europa. Spre exemplu, n Irlanda, limitarea garaniilor de stat de ctre guvernul irlandez numai la cele ase bnci naionale a condus la o retragere masiv de ctre deponeni a conturilor din Marea Britanie sau din bncile din Irlanda. Relaxarea sau suspendarea aplicrii regulilor de concuren? Dovezi din trecut Relaxarea sau chiar suspendarea uneori a aplicrii regulilor de concuren n crizele anterioare pe motiv de urgen economic sugereaz c astfel de abordari s-au dovedit a fi nenelepte, ntrucat nu au condus la beneficii economice ci din contr, au avut efectul de sugrumare a concurenei i de subminare a dinamismului economic, n detrimentul consumatorilor. Experiena SUA n timpul Marii Depresiuni (19291933), n special legalizarea cartelurilor, urmare a Actului de Redresare a Industriei Naionale a artat c o astfel de abordare poate prejudicia i mai mult economia n loc s o ajute. NIRA (1933) s-a promulgat ca rspuns la declinul industrial care a avut loc n timpul depresiunii din anii 1930 i a facilitat controlul preurilor i al produciei de ctre firmele organizate n asociaii comerciale, care pn nu demult era ilegal, conform legilor antitrust din SUA. n cele din urm, NIRA s-a dovedit c a contribuit puin, sau deloc la redresarea economic132. Mai mult dect att, suspendarea regulilor de concuren n SUA n anii 1930 a facut c Marea Depresiune s dureze mai mult133.

Dincolo de scurta existen a NIRA, dificultile din industriile americane nu au fost considerate, altcndva n istoria SUA, un argument legitim pentru acordarea unei scutiri fie ea i temporar de la regula de interzicere per se a cartelurilor. Legalizarea cartelurilor ca o politic de rspuns la firmele aflate n dificultate mpiedic mutarea forei de munc i a capitalului spre firme sau industrii mai eficiente. Ca o consecin, consumatorii pltesc preuri mai mari att pentru bunurile care provin din industria n dificultate ct i pentru bunurile din alte industrii neafectate134. Cu toate acestea, exist cteva legi de concuren care permit cartelurile de recesiune ca rspuns la crizele structurale. Astfel, un cartel de criza structural ar putea fi tolerat n scopul adaptrii capacitii n mod sistematic la o schimbare durabil a cererii atta timp ct cartelul ine seama de condiiile de concuren din sectoarele economice n cauz135. Guvernele pot fi tentate aadar s permit unei industrii s decid cu privire la structura care poate sa fac fa la noile condiii de pe pia. Aceste carteluri prezint ns, un risc serios n ceea ce privete concurena i eficiena pe pia. Spre exemplu, experiena Japoniei136 sugereaz c intervenia guvernului de a restriciona concurena n industrii afectate de criza structural a prelungit recesiunea din Japonia din anii 90. Relaxarea aplicrii regulilor privind controlul concentrrilor economice pe parcursul crizelor economice anterioare a urmrit n mod clar promovarea unor politici protecioniste137. De asemenea, exist un risc deloc de neglijat ca n contextul globalizrii pieelor, protejarea campionilor naionali i a intereselor naionale prin intermediul mprumuturilor i/sau a garaniilor de stat s conduc la declanarea unei competiii ntre state pentru subvenionarea industriilor lor, cu consecine dezastruoase asupra tere ri, deficitelor publice i pltitorilor de taxe.

132 A se consulta, spre exemplu, Harold L. Cole i Lee E. Ohanian, New Deal Policies and the Persistence of the Great Depression: A General Equilibrium Analysis, Journal of Political Economy, University of Chicago Press, (2004, vol. 112(4), pag. 779-816, august). 133 Fingleton, J., Competition Policy in Troubled Times, speech given on 20 January 2009, disponibil la link-ul www.oft.gov.uk/shared_oft/speeches/2009/spe0109.pdf. 134 J. Taylor, The Output Effects of Government Sponsored Cartels during the New Deal, Journal of Industrial Economics, Vol. 50(1), (2002, p. 1-10).

135 Massimo Motta, Competition Policy: Theory and Practice, editura Cambridge, (2004, p. 9). 136 A se consulta, spre exemplu, Hayashi i Prescott, The 1990s in Japan: A lost decade, Review of Economic Dynamics, 2002 sau Bill Emmott Rivals Chapter 8, How the struggle between China, India and Japan will shape our next decade, Penguin 2008. 137 Elena Carletti, European University Institute, Background Note on Competition and Financial Markets prepared for OECD Global Competition Forum, 2009, February - DAF(COMP)/(2009)2.

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The negative effects of the governmental protectionist measures may be identified in Europe as well. In Ireland, for example, limiting state guarantees by the Irish government only to the six national banks led to a massive withdrawal by the depositors of the accounts in Great Britain or in the Irish banks. In the same line, Financial Times identified massive subsidies provided by a large range of individual US states keen to attract new investments in order to restore the perception of US as a low cost manufacturing centre. Examples of national governments which have imposed price controls on food products or which have prohibited or taxed exports of food products are endless at global level. Softening or suspending the application of competition rules? Evidence from the past Relaxing or sometimes even suspending competition law and policy experimented during previous crises as a matter of economic urgency suggest that such approaches proved to be unwise since they did not lead to economic benefits but, on the contrary, to stifling competition and undermining economic dynamism to the consumers' disadvantage. The USA experience during the Great Depression (1929-1933), especially with legalizing the cartels, following the National Industrial Recovery Act (NIRA), proved that such an approach may cause even greater prejudice to economy instead of helping it. NIRA (1933) came as a reaction to the industrial decline which took place during the Depression in the 1930s and determined the price and production control by the companies organized into trade associations, which previously had been illegal, according to the USA antitrust laws. Finally, NIRA proved to be anti-competitive and had a small contribution or none at all, to the economic recovery138. Furthermore, the suspension of the USA competition laws in the 1930s made the Great Depression last longer139.
138 See, for instance, Harold L. Cole and Lee E. Ohanian, New Deal Policies and the Persistence of the Great Depression: A General Equilibrium Analysis, Journal of Political Economy, University of Chicago Press, (2004, vol. 112(4), pp. 779-816, August); 139 Fingleton, J., Competition Policy in Troubled Times, speech given on 20 January 2009, available on: www.oft.gov.uk/shared_oft/speeches/2009/spe0109.pdf. 140 J. Taylor, The Output Effects of Government Sponsored Cartels during the New Deal, Journal of Industrial Economics, Vol. 50(1), (2002, pp. 1-10).

Apart from NIRA's short existence, the difficulties in the American industries were not considered, anytime in the USA history, a legitimate argument for granting an exemption, even a temporary one, from the per se interdiction rule of the cartels. Therefore, experience shows that legalizing tacit agreements as a reaction policy towards companies under difficulties prevents the movement of capital and labor force towards more efficient companies and industries. As a consequence, consumers pay higher prices both for the goods coming from the industry under difficulty and for the goods coming from other unaffected industries140. However, there are a few competition laws which allow recession cartels as a response to structural crises. For instance, a structural crisis cartel might be tolerated in order to systematically adapt the capacity to a lasting change in demand as long as the cartel takes into account the competition conditions in the respective economic sectors141. Governments may be therefore inclined to allow an industry to decide on the structure which could cope with the new market conditions. These cartels incur, nevertheless, a major risk concerning competition and market efficiency. For instance, Japan's experience142 suggests that the government's intervention in restricting competition in industries affected by structural crisis extended Japan's recession in the 1990s. The relaxation of the merger control policy during previous economic crises was clearly directed towards promoting protectionist policies 143 . Moreover, there is a risk, which cannot be underestimated, that in the context of market globalization, the protection of national players and interests by state loans and guarantees might lead to a competition among different states for subsidizing their industries, having disastrous consequences on third countries, public deficits and taxpayers.

141 Massimo Motta, Competition Policy: Theory and Practice, Cambridge Publishing House, (2004, p. 9). 142 See, for instance, Hayashi and Prescott, The 1990s in Japan: A lost decade, Review of Economic Dynamics, 2002 or Bill Emmott Rivals Chapter 8, How the struggle between China, India and Japan will shape our next decade, Penguin 2008. 143 Elena Carletti, European University Institute, Background Note on Competition and Financial Markets prepared for OECD Global Competition Forum, 2009, February - DAF(COMP)/(2009)2.

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n acest sens, ajutorul acordat de guvernul American corporaiei Chrysler este probabil cel mai cunoscut exemplu de salvare a unei firme de la faliment cu bani publici, din istoria economic a SUA, nainte de intervenia guvernului de la sfritul anului trecut pentru salvarea industriei americane auto. Problemele financiare ale lui Chrysler au provenit n special din faptul c nu a raspuns suficient de prompt la cerinele consumatorilor pentru maini mai mici i cu consum mai mic de combustibil. Chrlysler, care era n prag de faliment a primit 1.2 mld. $ USD sub form de garanii federale ale mprumutului. G. William Miller, Guvernatorul Trezoreriei pe vremea acordrii acestor garanii a spus ca exist un interes public pentru meninerea locurilor de munc i a unei industrii auto naionale competitive144. La rndul su, Lee Iacocca, preedintele Chrysler asigura c garaniile guvernamentale, contigentele la import, precum i o politic industrial bine definit vor fi cheia succesului corporaiilor americane n anii ce vor urma145. Prin contrast, Alfred Dougherty, Jr., Directorul Biroului de Concuren al Comisiei Federale de Comer la acea vreme susinea n faa Senatului american: Atunci cnd o firm a interpretat n mod eronat sau a fost incapabil s satisfac nevoile i preferinele consumatorului, exist puine motive reale pentru care aceast firm sa fie meninut artifical pe pia prin sprijin financiar. Mai degrab reciproca este valabil. Eecul firmei marete eficiena alocativ prin nlaturarea unui utilizator ineficient al resurselor economice146. Garaniile federale de tipul celor oferite lui Chrysler n 1980 au avut efectul de eviciune a investiiilor private fcnd ca mprumuturile altor firme, precum i ale persoanelor fizice de pe piaa creditelor s fie mai greu de obinut i mai scumpe. Dac Chrysler ar fi fost mpins spre faliment, resursele pe care corporaia le controla s-ar fi putut ndrepta ctre ali juctori mai eficieni de pe piaa auto sau din afara acesteia. Dei pierderile de
Chrysler's Crisis Bailout, Time Magazine (20 august, 1979). Hickel, James K., The Chrysler Bail-Out Bust, Backgrounder 276 (1983, July, 13, p. 1). 146 Declaraia lui Alfred F. Dougherty, Jr., Director, Bureau of Competition, Federal Trade Commission, in fata Senatul American cu privire la Government Assistance to Chrysler Corporation (10 octombrie 1979, p.2).
145 144

locuri de munc din potenialul faliment a lui 147 Chrysler erau estimate la peste 720000 , n realitate, sprijinul guvernamental oferit lui Chrysler a salvat numai o parte din aceste locuri de munc pe termen scurt. Posibile rspunsuri ale politicii de concuren la criza economic i financiar actual Spre deosebire de un boom economic, situaie n care juctorii ineficieni pot supravieui i chiar dezvolta, o recesiune tinde s scoat de pe pia juctorii mai puin eficieni. Argumentul de firm aflat n dificultatei politica de control al concentrrilor economice n contextul crizei financiare, concentrrile economice cu scopul de salvare a bncilor aflate n dificultate la fel ca i naionalizarea bncilor de ctre Statele Membre UE148 au condus la apariia unor noi provocri n aplicarea regulilor de control al concentrrilor economice, att din punct de vedere procedural ct i pe fond. La prima vedere, pare c termenele stricte de analiz a concentrrilor economice ar mpiedica implementarea rapid a fuziunilor sau achiziiilor, care uneori poate fi de o importan covaritoare pentru a ine n via o firm aflat n dificultate. ns, n realitate, aplicarea regulilor de control al concentrrilor economice constituie un instrument adecvat i flexibil i pe vremuri de criz n sensul c nici o regul nu impiedic o autoritate de concuren s se pronune cu privire la operaiunea notifcat n mai puin de termenul legal de 30 zile, dac urmare a analizei, aceasta ajunge la concluzia c respectiva operaiune nu creaz ingrijorri legate de concuren. Cu toate acestea, n practic, putem constata c adaptarea regulilor procedurale privind controlul concentrrilor economice la contextul actual economic nu a fost nc necesar nici la nivel comunitar nici n SUA.
Ibidem nota 13. A se nota c Statele Unite nu au naionalizat bnci nici mcar n timpul Marii Depresii din 1929. Cu toate acestea, n prezent, exist tot mai multe voci care susin c naionalizarea bncilor este ultima soluie pentru resuscitarea instituiilor financiare din SUA, dupa modelul suedez din anii 1990.
148 147

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In this respect, the aid granted by the US government to Chrysler Corporation is probably the best known example from the US economic history of saving a company from bankruptcy with public money, before the government intervention at the end of last year for rescuing American car industry. Chrysler's financial difficulties were caused mainly by the fact that it did not respond promptly enough to the consumers' demands for smaller and low fuel consumption cars. Chrysler, which was on the verge of bankruptcy, received US$ 1.2 billion as federal guarantees of the loan. G. William Miller, Governor of the Treasury at the time these guarantees were granted, said that there is a public interest for saving these jobs and a competitive national car industry149. At his turn, Lee Iacocca, Chrysler's president, claimed that governmental guarantees, import quotas and a well-defined industrial policy will be the key to success for American corporations in years to come150. On the contrary, Alfred Dougherty, Jr., Director of the Competition Bureau of the Federal Trade Commission at that time, declared before the American Senate: When a company has misperceived or been unable to satisfy the needs and preferences of the consumer, there are little reason should normally exist to preserve the firm through artificial support. Rather, the opposite is generally true. The failure of the firm increases allocative efficiency by removing an inefficient user of economic resources151. The federal guarantees such as those granted to Chrysler in 1980 had the effect of crowding out private investments and therefore loans for other companies as well as for natural persons in the credit market became more expensive and more difficult to obtain. If Chrysler had been pushed into bankruptcy, the resources controlled by the corporation could have been directed to other more efficient players in the car market or outside

it. Although job losses caused by Chrysler's potential bankruptcy were estimated to over 720,000152, in fact, the federal bailout of Chrysler saved only part of these jobs in the short run. Possible answers of competition policy to the present economic and financial crisis Unlike an economic boom, when inefficient players can survive and even develop, a recession tends to take the less efficient players out of the market. The failing firm defense argument and the merger control policy In the context of the financial crisis, rescue mergers between banks as well as nationalization of banks by Member States153 have given rise to new challenges in the application of merger control rules, in terms of both procedural and substantive aspects. At first sight, it seems that the tight deadlines characterizing the review of economic concentrations by the competition authorities would impede the quick implementation of mergers or acquisitions that sometimes may be required to keep a troubled firm operating. However, the procedural rules regarding mergers may be adapted when necessary to ensure that merger control enforcement would be an adequate and flexible instrument also in times of crisis. However, so far, adapting the procedural rules governing merger control to the current economic framework has not been required either for the EU or for the US.

Chrysler's Crisis Bailout, Time Magazine (August 20, 1979). Hickel, James K., The Chrysler Bail-Out Bust, Backgrounder 276 (1983, July, 13, p. 1). 151 Statement of Alfred F. Dougherty, Jr., Director, Bureau of Competition, Federal Trade Commission, before the American Senate concerning Government Assistance to Chrysler Corporation (October 10, 1979, p.2).
150

149

Ibidem note 13. To be noted that USA did not nationalize banks even during the Great Depression of 1929. However, nowadays, more and more voices claim that nationalizing banks would be the last solution for reviving US financial institutions, according to the Swedish model in the 90's.
153

152

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Din punct de vedere al analizei pe fond a concentrrilor economice, att n reglementrile SUA ct i n cele ale UE din domeniu, prile implicate n operaiunea de concentrare economic pot s se prevaleze de argumentul firm aflat n dificultate. Cnd, n absena unei concentrri economice, una din prile la concentrare este foarte probabil s falimenteze, concentrarea economic poate fi acceptat ca nefiind o nclcare a Seciunii 7 din Actul Clayton154, respectiv a reglementrilor comunitare privind controlul concentrrilor economice155. Acest argument joac un rol important n politica de concuren, prin asigurarea faptului c reglementrile privind concentrrile economice nu conduc n mod inutil la ieirea activelor societii n stare de insolven de pe piaa relevant. Totui, aceptarea acestui argument se produce arareori, ntruct prile implicate n operaiunea de concentrare economic au sarcina de a demonstra c nu exist un alt cumprtor pe pia astfel nct operaiunea de concentrare economic s produc un efect anticoncurenial mai puin duntor. Mai mult dect att, ntr-o ncetinire economic, din ce n ce mai multe firme pot deveni falimentare, fcnd ca acest argument de firm aflat n dificultate s fie din ce n ce mai invocat. Iat de ce trebuie avut n vedere i motivul real pentru care tot mai multe firme dau faliment ntrun astfel de context economic. Prin urmare, provocrile actuale nu justific relaxarea sau suspendarea temporar a regulilor actuale n domeniul concentrrilor economice. n plus, regulile procedurale din domeniu coroborate cu o vigilen sporit din partea autoritilor de concuren garanteaz o aplicare eficient a regulilor de control al concentrrilor economice i de o manier care s sprijine redresarea economic a firmelor aflate n dificultate.

Subveniile guvernamentale pentru sprijinirea firmelor nefinanciare: rspunsul politicii de concuren i efectele economice Subveniile acordate firmelor pot de asemenea s distorsioneze concurena i s reduc eficiena prin sprijinirea firmelor mai puin eficiente sau care au produse sau servicii mai puin atractive. n aceste condiii, politica industrial reprezint o mare provocare pentru autoritile de concuren, mai ales datorit presiunii exercitate de productori i de sindicate. Abordarea corect ar fi ca autoritile de concuren s identifice mai degrab elementele unei strategii industriale proconcureniale dect s pun accentul pe tensiunile inerente dintre aceste importante ramuri ale politicii economice. n aceeai ordine de idei, autoritile de concuren ar trebui s identifice i s pledeze mpotriva acelor elemente ale unei strategii industriale care au potenialul cel mai ridicat de distorsionare a concurenei pe pia. Sprijinul guvernamental pentru dezvoltarea industrial, n ansamblu, i nu pentru a privilegia o firm sau alta este o posibil soluie care nu distorsioneaz mecanismele concureniale ale pieei. Ajutoarele de stat pentru dezvoltarea resurselor umane sau a infrastructurii fizice sau cercetare-dezvoltare toate reprezentnd de altfel constrangeri de politic industrial - arareori sau chiar niciodat nu vor intra n conflict cu politica i legea concurenei i reprezint de altfel opiunea actual a UE156 n faa presiunilor exercitate de politica industrial. Cu toate acestea, n cadrul planului european de redresare economic, Comisia European a adoptat, n decembrie 2008, un cadru temporar, oferind statelor membre posibiliti suplimentare de combatere a efectelor restrngerii creditrii asupra economiei reale. Acest nou cadru introduce un numr de msuri temporare care permit statelor membre s remedieze dificultile excepionale cu care se confrunt ntreprinderile n ceea ce privete accesul la surse de finanare.

154 A se consulta, spre exemplu, cazul United States vs. General Dynamics Corp., 415 U.S. 486 (1974) i instruciunile privind concentrarile economice orizontale ale autoritilor de concuren din SUA (1997). 155 A se consulta, Instruciunile privind evaluarea concentrrilor orizontale, n conformitate cu Regulamentul CE privind controlul

concentrrilor economice ntre ageni economici (Regulamentul CE nr. 139/2004), Monitorul oficial C-31, 05.02.2004. 156 A se consulta documentul EU State aid policy and the car industry http://ec.europa.eu/enterprise/automotive/pagesbackground/com petitiveness/com_2009_104/annex_2.pdf.

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From the viewpoint of the substantive aspects of merger control, under both US and EC antitrust laws, merging companies may avail themselves of the failing firm defense doctrine. When, absent a merger, one of the merging parties would very likely fail, the merger may be found not to violate Section 7 of the Clayton Act157, respectively the EC Merger Regulation no. 139/2004158. This argument plays an important role in competition policy by ensuring that merger law does not unnecessarily lead to assets exiting a relevant market. Its application, however, is narrow because merging parties bear the burden of proof that there is no alternative purchaser that would create a less anticompetitive effect. Moreover, in an economic slowdown, more and more companies can become bankrupt making the failing firm defense argument more and more frequently invoked. As a result, one should not neglect the real reasons behind the greater number of failing firms in times of economic crisis. As a consequence, the present challenges do not justify the temporary relaxation or suspension of the present rules on economic concentrations. In addition, the procedural rules in the field together with an increased vigilance of the competition authorities guarantee an efficient enforcement of merger control and in a way that should support the economic recovery of the companies under difficulties.

The government bailouts for assisting nonfinancial companies: the response of the competition policy and the economic effects Subsidies to firms can also distort competition and reduce efficiency by inducing more supply from firms that are less efficient or that have less attractive products or services. Under these circumstances, the industrial policy represents a great challenge for the competition authorities, mainly due to the pressure exercised by the producers and trade unions. The correct approach would be that competition authorities would identify the elements for an industrial procompetitive strategy rather than to focus on the inherent tensions between these important branches of economic policy. The government support for industrial development as a whole and not in order to favor a particular company is a possible solution which does not alter the market competition mechanisms. The state aid for developing human resources or physical infrastructure or researchdevelopment all representing such industrial policy constraints will seldom, if ever, come into conflict with competition policy and law and represent the present EU159 option under the pressures brought by industrial policy. However, in the context of its European economic recovery plan, on December 2008, the Commission adopted a temporary framework providing Member States with additional ways of tackling the effects of the credit squeeze on the real economy. This new framework introduces a number of temporary measures to allow Member States to address companies' exceptional difficulties in obtaining finance.

157 See, for instance the case United States vs. General Dynamics Corp., 415 U.S. 486 (1974) and the Horizontal Merger Guidelines of US DOJ&FTC (1997). 158 See the EC Notice-Guidelines on the assessment of horizontal mergers under the Council Regulation on the control of

concentrations between undertakings, O.J. C-31, 05.02.2004. See document EU State aid policy and the car industry: http://ec.europa.eu/enterprise/automotive/pagesbackground/c ompetitiveness/com_2009_104/annex_2.pdf.
159

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n special, statele membre vor putea acorda, fr obligaia de notificare a cazurilor individuale, mprumuturi subvenionate, reducerea primelor de plat pentru garaniile de mprumuturi, capital de risc pentru IMM-uri i ajutoare directe n valoare de maximum 500 000 EUR. Aceste ajutoare sunt permise pn la sfritul anului 2010 i pot fi acordate firmelor care nu se aflau n dificultate la data de 1 iulie 2008, dar care au nceput s aib dificulti dup aceast dat. Cu alte cuvinte, se presupune c aceste firme se afl n dificultate nu pentru c modelul lor de afaceri este greit, ci pentru c sunt afectate de criza global financiar i economic. Rspunsul politicii de concuren n sectorul financiar Concurena este un mecanism economic fundamental, care are rolul de a atinge eficiena i de a spori prosperitatea consumatorului. Cu toate acestea, n sectorul financiar, conceptul de eficien trebuie lrgit pentru a include considerente legate de stabilitate si securitate financiara datorit particularitilor sectorului cum ar fi externalitile i asimetria informaiei160. Recunoaterea beneficiilor concurenei n acest sector a fost dintotdeauna controversat. Pn n 1980, att n literatura academic ct i n sfera politicilor a prevalat idea c manifestarea unei concurene sporite n sectorul financiar poate determina instituiile financiare s se angajeze n activiti mai riscante, pentru a obine profit cu orice pre161. n aceste condiii, probabilitatea apariiei i perpeturii eecurilor unor bnci, era apreciat ca fiind mai mare, determinnd crize bancare. Concurena era perceput mai mult ca o ameninare la stabilitatea sistemului financiar iar reglementarea ca cea mai bun cale de rezolvare a eecului pieelor162. S-a comentat de multe ori ns i c mrimea firmei i sfera de activitate au o importan covritoare n domeniul bancar n sensul c un sistem bancar cu bnci mari i diversificate poate fi protejat mai bine de instabilitate163. Boot a ajuns la concluzia c
160 Dell'Ariccia, G., Asymmetric Information and the Structure of the Banking Industry, European EconomicReview, 45, (2001, p. 19571980). 161 Degryse H. and S. Ongena, Competition and Regulation in the Banking Sector: A Review of the Empirical Evidence on the sources of bank rents, in A. Thakor and A. Boot (eds.), Handbook of Financial Intermediation and Banking, Elsevier, (2008, p. 483-542). 162 A se consulta, spre exemplu, lucrarea de succes a lui Allen, F. and D. Gale, Competition and Stability, Journal of Money, Credit and Banking, 36(3), (2004, p. 453-480) 163 Degryse H. and S. Ongena (2007). Background Note in Competition and Regulation in Retail Banking, OECD, p. 15-58.

dovezile sunt moderate i nu prea utile n explicarea valului curent de restructurare i de consolidare a sistemului financiar164. Dup 1980 i n particular, n ultimul deceniu, sectorul financiar, att n Europa ct i n SUA a trecut printr-un proces de transformare profund. Dereglementarea i globalizarea au sporit presiunea competitiv asupra firmelor care opereaz n sector. Noi actori, cum ar fi companiile de asigurare, furnizorii de carduri de credit i companiile nefinanciare, au ptruns pe segmente de pia care erau considerate teritoriul bncilor. Analiza empiric mai recent165 tinde s ilustreze c restriciile impuse prin intermediul reglementrilor care au menirea de a restriciona concurena n sector ar conduce la slbirea stabilitii sistemului financiar. Prin urmare, cu cteva excepii, i atitudinea cu privire la politica de concuren n sectorul bancar s-a schimbat dramatic. n SUA, exceptarea de facto a sectorului bancar de la aplicarea regulilor de concuren a fost puternic anticipat de deciziile Curii Supreme n cazurile United States v. Philadelphia National Bank and United States v. Lexington din 1963 si 1964166. De altfel, i n prezent, instituiile financiare din SUA beneficiaz de tratament oarecum aparte fa de firmele care activeaz n alte sectoare economice. Astfel, pragurile de aplicare a indicelui HHI (Herfindahl-Hirshman INDEX) pentru stabilirea gradului de concentrare pe piaa relevant sunt mai nalte n sectorul financiar-bancar fa de cele care se aplic n cazul celorlalte sectoare economice. n plus, activitile de investigaie i decizie cu privire la concentrrile economice din sectorul financiar bancar aparin pe de o parte reglementatorului OCC, FDIC sau FED i pe de alta parte, Departamentului de Justiie din Statele Unite, cruia i se recunoate posibilitatea legal de-a ataca n instan decizia reglementatorului de sector.
164 Boot, A.W.A., Consolidation and strategic positioning in banking with implications for Europe, in R.E. Litan and R. Herring (eds), BrookingWharton Papers on Financial Services, (2003, p. 3784) sau Boot, A., Financial services: consolidation and strategic positioning, in International Handbook of Competition, chapter V, edited by Manfred Neumann and Jurgen Weigand, (2004, p. 133-165). 165 Beck, T., A. Demirguc-Kunt, and R. Levine, Bank Concentration, Competition and Crises, Journal of banking and Finance, 30, (2004, p.1581-1603). 166 Bianco, M., F. Ghezzi i P Magnani, L'Applicazione della Disciplina . Antitrust nel Settore Bancario Statunitense, in M. Polo (ed), Industria Bancaria e Concorrenza, Bologna: Il Mulino, (1998, p.143-258).

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In particular, Member States are able to grant, without notification of individual cases, subsidized loans, loan guarantees at a reduced premium, risk capital for SMEs and direct aids of up to EUR 500,000. These aids are allowed until the end of 2010 and may be granted to firms which were not in difficulty on 1st of July 2008, but entered into difficulty thereafter. In other words, it is presumed that these firms are in difficulty not because their business model is wrong, but because they are affected by the global financial and economic crises. The response of competition policy in the financial sector Competition is a fundamental economic mechanism to achieve efficiency and enhance consumer welfare. However, in the financial sector, the concept of efficiency should be enlarged in order to include aspects concerning financial stability and security due to the particularities of this sector such as externalities and information asymmetry167. Recognizing the benefits of competition in this sector was always controversial. Until 1980 the idea prevailing both in the academic literature and policy sector was that an increased competition in the financial sector may determine financial institutions to take on more risky activities, in order to obtain profit at any cost168. Under these circumstances, the probability of bank failures to appear and be perpetuated was considered to be higher, generating bank crises. Competition was perceived more as a threat to the stability of the financial system and regulation as the best way to solve market failures169. It has often been noted, though, that the size of the company and its field of activity have an overwhelming importance in the banking sector in the sense that a banking system with great and diversified banks can be better protected against instability170. Arnoud Boot reached the conclusion
167 Dell'Ariccia, G., Asymmetric Information and the Structure of the Banking Industry, European Economic Review, 45, (2001, p. 1957-1980). 168 Degryse H. and S. Ongena, Competition and Regulation in the Banking Sector: A Review of the Empirical Evidence on the sources of bank rents, in A. Thakor and A. Boot (eds.), Handbook of Financial Intermediation and Banking, Elsevier, (2008, p. 483-542). 169 See, for example, the paper of Allen, F. and D. Gale, Competition and Stability, Journal of Money, Credit and Banking, 36(3), (2004, p. 453-480) 170 Degryse H. and S. Ongena (2007). Background Note in Competition and Regulation in Retail Banking, OECD, p. 15-58. 171 Boot, A.W.A., Consolidation and strategic positioning in banking with implications for Europe, in R.E. Litan and R. Herring (eds), Brooking-Wharton Papers on Financial Services, (2003, pp. 3784) or Boot, A., Financial services:

that evidence is moderate and not too useful for explaining the present wave of restructuring and consolidation of the financial system171. After 1980 and especially during the last decade, the financial sector both in Europe and in the USA has gone through a process of deep transformation. Deregulation and globalization have increased the competitive pressure on the companies operating within this sector. New players, such as insurance companies, credit card suppliers and non-financial companies have penetrated market segments that were considered to be the banks' territory. The more recent empirical analysis172 tends to illustrate that restrictions imposed by the regulations designed to restrict competition in this sector would lead to a substantial weakening of the stability of the financial system173. Therefore, with some exceptions, the attitude towards competition policy in the banking sector changed dramatically. In the USA, the de facto exclusion of the banking sector from the application of competition rules was strongly anticipated by the decisions of the Supreme Court in the cases United States vs. Philadelphia National Bank and United States vs. Lexington in 1963 and 1964174. In fact, even at present, the US financial institutions benefit from a somehow special treatment compared to the companies operating in other economic sectors. Thus, the thresholds for applying the HHI (Herfindahl - Hirshman INDEX) index in order to identify the concentration degree on the relevant market are higher in the financial-banking sector than those applying in the case of the other economic sectors. Furthermore, the investigation and the decision-making activities relating to the operations of economic concentrations in the financial-banking sector belong to OCC, FDIC or FED regulator, on the one hand, and to the US Department of Justice, on the other hand, which is allowed to bring action against the decision of the sector regulator.
consolidation and strategic positioning, in International Handbook of Competition, chapter V, edited by Manfred Neumann and Jurgen Weigand, (2004, pp. 133-165). 172 Beck, T., A. Demirguc-Kunt, and R. Levine, Bank Concentration, Competition and Crises, Journal of banking and Finance, 30, (2004, p.15811603). 173 Beck, T., A. Demirguc-Kunt, and R. Levine, Bank Concentration, Competition and Crises, Journal of Banking and Finance, 30, (2004, pp.15811603). 174 Bianco, M., F. Ghezzi and P Magnani, L'Applicazione della Disciplina . Antitrust nel Settore Bancario Statunitense, in M. Polo (ed), Industria Bancaria e Concorrenza, Bologna: Il Mulino, (1998, p.143-258).

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n Europa, Comisia European a nceput s aplice prevederile articolelor 85 si 86 ale Tratatului de la Roma ( devenite n prezent articolele 81 si 82 din Tratatul CE) sectorului financiar numai odat cu judecarea cazului Zchner de la inceputul anilor 80175. Pn atunci, sectorul bancar a fost considerat un sector special, aflat mai degrab sub influena puternic a politicilor monetare i financiare ale autoritilor din Statele Membre, dect a forelor pieei. Se poate constata aadar c problema stabilirii pragului optim al puterii de pia n acest sector rmne deschis. Pe de o parte, minimizarea costurilor i eficiena alocativ par s susin beneficiile manifestrii concurenei n sectorul bancar, iar pe de alt parte, concurena acerb pare s conduc la rezultate de pia ineficiente i nedorite, cum ar fi restriciile de creditare sau retragerile masive din bnci, datorit particularitilor acestui sector. Tocmai datorit acestei controversate legturi dintre concuren i stabilitate, sectorul financiar a fost, n mod tradiional, subiectul reglementrii i supervizrii, i, mai puin, supus forelor de pia i privirii atente a autoritilor concurenei176. Totui, serviciile financiare sunt unice n sensul c exist un risc de contaminare sistemic177 dac firmele falimenteaz. Faptul c bncile se disting fundamental de alte domenii de activitate (eecul unei bnci poate conduce la eecul nlnuit al altor bnci n timp ce n alte domenii de activitate, ieirea de pe pia a unui juctor ar fi n interesul concurenilor) ar putea justifica n mod excepional intervenia guvernului. ntr-adevr, experiena bncii Lehman Brothers indic faptul c dispariia necontrolat a juctorilor ineficieni de pe piaa bancar poate s afecteze celelalte bnci de pe pia. De altfel, costurile sociale ale neinterveniei n acest sector exced, foarte probabil, costurile private ale acionarilor i creditorilor. n vederea facilitrii relaiei dintre politica de concuren i intervenia public, CE a publicat n decembrie 2008 o Comunicare n care arat cum
175 Curtea Europeana de Justiie, 14-07-1981, C 172/80, Gerhard Zchner c. Bayerische Vereinsbank AG. 176 Carletti E. and X. Vives, Regulation and Competition Policy in the Banking Sector in X. Vives (ed.), Assessment and Perspectives of Competition Policy in Europe, Oxford University Press, 2008. 177 Brusco S. and F. Castiglionesi, Liquidity Coinsurance, Moral Hazard and Financial Contagion, Journal of Finance, 62, (2007, p. 2275-

se vor aplica msurile de ajutor de stat n sprijinul instituiilor financiare n contextul crizei globale actuale178. Conform orientrilor definite n aceast comunicare, Comisia a aprobat n special planurile de ajutoare pentru instituiile financiare ntocmite de mai multe State Membre179. n decembrie 2008, Comisia a completat documentul orientativ din 13 octombrie, printr-o comunicare privind modul n care statele membre pot recapitaliza bncile pentru a crete fluxul de creditare ctre economia real, n conformitate cu normele comunitare aplicabile ajutoarelor de stat (Comunicarea cu privire la sectorul bancar). Pe msur ce criza a cptat o dimensiune sistemic, Comisia a luat decizii cu privire la alte msuri temporare care s fie aplicabile n sectorul financiar, n ideea de a crea cadrul necesar care s permit Statelor Membre s recapitalizeze bncile n scopul asigurrii de mprumuturi economiei reale (Comunicarea cu privire la recapitalizarea instituiilor financiare), precum i de a cura bilanurile bncilor (Comunicarea privind activele toxice ale bncilor). Totui, la nivel comunitar, necesitatea minimizrii distorsiunilor de concuren se impune i n acest sector ca i n alte sectoare de activitate i, astfel, bncile care au beneficiat de garanii, pachetele de msuri de salvare i restructurare i alte msuri pentru salvare trebuie s furnizeze planuri de restructurare i s dovedeasc transparen, prin informarea Comisiei Europene cu privire la activele toxice. Aceste planuri de restructurare urmresc restaurarea viabilitii pe termen mediu i lung, limitarea ajutorului de stat la minimul necesar, adic participarea privat la acoperirea costurilor restructurrii i introducerea unor msuri compensatorii care s limiteze distorsiunile de concuren rezultnd din eecul bncilor aflate nc n operare i extragerea cotelor de pia de la bncile viabile. Dei restaurarea viabilitii ar trebui s asigure c firma nu va solicita sprijin adiional de la stat, lichidarea poate constitui la fel de bine o alternativ real la restructurare.
2302). 178 Comunicarea CE 2008/c 270/02 din 25.10.2008 cu privire la aplicarea regulilor de ajutor de stat n domeniul instituiilor financiare n contextul crizei financiare globale. 179 Situaia general a Ajutoarelor de Stat acordate din fiecare Stat membru al UE Primvara anului 2009, Bruxelles, 08.04.2009, COM (2009) 164.

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In Europe, the European Commission started to apply the provisions of articles 85 and 86 of the Treaty of Rome (which became articles 81 and 82 of the EC Treaty) to the financial sector only at the beginning of the 1980's when the Zchner case was on trial180. Until then, the banking sector had been considered a special sector, placed rather under the strong influence of the monetary and financial policies of the authorities in the Member States than under the influence of the market forces. One may notice, therefore, that the problem of establishing the optimum level of market power in this sector still remains open. On the one hand, minimizing the costs and the allocative efficiency seem to sustain the benefits of competition in the banking sector and, on the other hand, fierce competition seems to lead to inefficient and undesirable market results, such as credit restrictions or massive bank withdrawals due to the particularities of this sector. Precisely because of this controversial relationship between competition and stability, the financial sector was, traditionally, subject to regulation and supervision and less to market forces and to a close monitoring by competition authorities181. However, financial services are unique in that there is a systematic contagion risk if firms fail. The fact that banks are fundamentally different from other businesses (i.e., the failure of one bank may lead to a run on others, as opposed to other sectors where the removal of one player would normally be in competitors' interests) may exceptionally justify government intervention. Indeed, the experience of Lehman Brothers has shown that the uncontrolled disappearance of players with a flawed business model may effectively hurt the remaining banks. Actually, the social costs of failure would greatly exceed the private costs to shareholders and creditors.

In order to facilitate the relationship between competition policy and public intervention, EC adopted in October 2008 a Communication showing the way in which state aid rules apply to the measures taken in support of financial institutions in the context of the current global crisis (Banking communication)182. On December 2008, the Commission complemented the guidance document of 13 October by issuing a communication on how Member States can recapitalise banks to boost credit flows to the real economy in a manner consistent with Community state aid rules (Recapitalisation Communication). As the crisis became a systemic one, the Commission made another important decision targeted to the financial sector, so to create the necessary framework that would allow Member States to clean-up balance sheets (Impaired Asset Communication). However, at the community level, limiting competition distortions is vital in this sector just as in other sectors and, thus, the rescued banks which benefited from guarantee schemes, and restructuring packages and other measures must provide restructuring plans and prove transparency by informing the European Commission with regard to the toxic assets. These restructuring plans aim to restore the long-term viability, to limit State aid to the minimum necessary (the private participation in covering restructuring costs) and to introduce certain compensatory measures in order to limit competition distortions resulting from the failure of banks still operating and extracting market shares from viable banks. Although restoring viability should guarantee that the company will not request additional State Aid, liquidation may very well be a real alternative to restructuring.

180 European Court of Justice, 14-07-1981, C 172/80, Gerhard Zchner c. Bayerische Vereinsbank AG.

Carletti E. and X. Vives, Regulation and Competition Policy in the Banking Sector in X. Vives (ed.), Assessment and Perspectives of

181

Competition Policy in Europe, Oxford University Press, 2008. EC Communication on the application of state aid rules in the sector of financial institutions in the context of the global financial crisis, OJ C 270/02/2008, 25.10.2008.
182

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n circumstanele actuale excepionale, Comisia Europeana a aprobat o serie de scheme sub form de capitalizri, garanii, pachete de msuri de salvare i restructurare i alte msuri avnd ca scop sprijinirea instituiilor financiare din cteva State Membre183 cum ar fi Austria, Belgia, Germania, Frana, Olanda, Luxemburg, Irlanda i Marea Britanie, cu excepia Romniei, al crei guvern a depus eforturi n scopul majorrii capitalul bncii de stat CEC, cu scopul de a stimula creditarea pentru ntreprinderile mici i mijloci, msur inclus de altfel n pachetul de msuri anti-criz al guvernului Romniei. Cu toate acestea, recapitalizarea bncii romneti cu capital de stat CEC a fost apreciat de Comisia European ca o form de ajutor de stat n ciuda eforturilor depuse de Consiliul Concurenei din Romnia de a convinge Comisia European de a nu califica msura de capitalizare a CEC- ului astfel. n cele din urm, recapitalizarea CEC-ului s-a produs dar ca parte din profitul obinut anul trecut de ctre CEC. Mai mult dect att, se pare c ar fi mult mai uor s se obin aprobarea dac banca s-ar fi aflat n dificultate. ns CEC nu se afl n aceasta situaie. Concluzii Concurena este nucleul de baz al pieelor pe deplin funcionale. ns, n recesiune, autoritile de concuren trebuie s fac o alegere adeseori dificil ntre soluionarea unor probleme reale de concuren i probleme unde intervenia politicii i legii concurenei este mai puin evident ns unde presiunile publice sunt mari. Experiena SUA, precum i a altor ri n crizele economice i financiare anterioare indic faptul c relaxarea principiilor legii concurenei prin abordri ca cele ilustrate, cum ar fi o mai mare aplecare ctre concentrri economice n industria financiar sau subvenionarea selectiv i necontrolat a instituiilor financiare i nefinanciare este puin probabil s contribuie la soluionarea crizei economice att pe termen scurt ct i pe termen lung. Exemplul de revitalizare
183 Situaia general a Ajutoarelor de Stat acordate din fiecare Stat membru al UE Primvara anului 2009, Bruxelles, 08.04.2009, COM

ntrziat a economiei americane, ca urmare a depresiunii din anii 1930 relev, la rndul su, costurile suspendrii politicii i legii concurenei. Am evideniat pe parcursul lucrrii c o lege i politic a concurenei prea puin flexibile pot afecta i mai mult economia pe termen scurt; ns, i viceversa am artat c este valabil: n cazul n care sunt prea flexibile, legea i politica concurenei pot afecta i mai mult economia pe termen lung, prin prejudicierea investiiilor i inovrii. Prin urmare, poate c ntr-un asemenea context, politica de promovare a regulilor de concuren trebuie exercitat cu mai mult aplomb dect oricnd. Numai o astfel de atitudine din partea unei autoriti de concuren poate garanta supremaia politicii de concuren atunci cnd noi reglementri i iniiative politice se vor creiona. Altfel spus, este extrem de necesar funcionarea unei colaborari strnse ntre autoritatea de concuren, autoritile de reglementare din s e c t o r u l f i n a n c i a r- b a n c a r i i n s t i t u i i l e guvernamentale, nainte de adoptarea politicilor necesare n domeniul financiar i nefinanciar, n scopul prevenirii posibilelor efecte anticoncureniale ale acestora. Putem concluziona, aadar, c flexibilitatea regulilor de concuren este necesar n contextul actual, ns aceasta nu trebuie perceput n sensul de suspendare, chiar i temporar, a aplicrii principiilor de concuren, ci n sensul unei relaxri a procedurilor de lucru, att n domeniul concentrrilor economice ct i n domeniul ajutorului de stat.

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Under current exceptional circumstances, the European Commission approved the aid plans to bail out the banks through capitalization, state guarantees, rescue and restructuring packages and other measures put in place by several Member States184 such as Austria, Belgium, Germany, France, the Netherlands, Luxembourg, Ireland and the UK, but for Romania, whose Government has strived to increase the capital of its state-owned bank CEC, aiming at stimulating lending for SMEs as part of its anti-crisis package of measures. However, the recapitalization of the State-controlled CEC bank was deemed by the EC as a form of state aid, despite the efforts deployed by Romanian Competition Council of persuading the European Commission not to label it as such. Eventually, the recapitalization of CEC was achieved but as part of the profit CEC registered in 2008. Moreover, it seems that it would have been much easier to get the approval if the bank would have been in difficulty. But this was not the case of CEC. Conclusions Competition is central to well-functioning markets. But, in a recession, competition agencies often face a difficult trade-off between doing work that addresses real harm and addressing issues that raise huge public concerns but where there is not a competition problem, or not an intervention that could make things better. US experience, as well as that of other countries in the previous economic and financial crisis suggest that relaxing the principles of competition law by approaches such as those illustrated above (for instance, a greater demand for economic concentrations in the financial industry or selective and uncontrolled subsidies granted to financial and non-financial institutions) is less likely to contribute to putting an end to the economic crisis both in the short and long run. The example of the delayed recovery from the depression in the 1930s clearly showed the costs inflicted, when competition rules not applied.
184 State Aid Scoreboard, Spring 2009 Update, 08.04.2009, Brussels, COM(2009) 164.

I have underlined throughout the paper that a too inflexible competition law and policy may jeopardize more the economy in the short-run; but also the other way around is true: if it is too flexible, competition law and policy may jeopardize more the economy in the long-run by undermining investments and innovation. Therefore, probably in such a context, the advocacy policy should be put into practice more intensely than ever. Only such an attitude coming from a competition authority can guarantee the supremacy of competition policy when new regulations and political initiatives come into force. In other words, it is extremely essential an increased and well functioning dialogue between the competition authority, financial regulators and Governmental institutions in the process of drafting due policies relating to the financial and nonfinancial sector so to prevent their potential anticompetitive effects. To conclude, the flexibility of competition policy is required in the current economic context but this flexibility must not be understood in the sense of setting aside the application of competition principles but in the sense of relaxing working procedures both in the field of economic concentrations and state aid field.

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Post Scriptum redactor ef :


Problema problemelor ntr-o criz economic prelungit (mondial) este ca legea de baz a economiei de pia: legea Concurenei poate ajuta salvarea situaiei deosebit de precare din economie, finane i din instituiile statului i respectiv n politica economic. 1. Cnd economia cade, firmele mor i falimentele sunt la ordinea zilei iar plata salariilor i pensiilor este tot mai grea pentru un guvern n deriv, care este calea de urmat ? Opinia noastr sun astfel: dac recesiunea este peste 8,5% confirmat i de expertii FMI , deficitul bugetar tinde tot ctre 8,5% i omajul se apropie vertiginos de 8% asistnd la un deficit financiar gemene etc. Cum poate aciona legea concurenei n aceste condiii deosebit de vitrege? S nu revenim oare la un protecionism pe o perioad limitat? Incercm s formulm nite rspunsuri la problemele ridicate la pct. 1 i pct. 2 : avem nevoie de o bun guvernare cu msuri ce se adreseaz n primul rnd economiei reale i vizeaz segmentul structural al crizei; este nevoie de msuri sustenabile, repetate, care favorizeaz autoregenerarea pieelor care au suferit cel mai mult din cauza crizei ( piata imobiliar, piaa creditelor bancare,piaa muncii etc); stimularea economiei pentru o cretere economic n ritm nalt prin relansarea ofertei i creterea ocuprii forei de munc; administrarea eficient a deficitelor bugetare prin raionalizarea cheltuielilor i creterii gradului de ncasare printr-un aparat coercitiv, tiind c sunt sectoare economice nefiscalizate. Opinm pentru ajutoare de stat pentru IMM-uri aflate n dificultate i pentru construcii de locuine i investitii n infrastructur.

Bibliografie
Allen, F. and D. Gale, Competition and Stability, Journal of Money, Credit and Banking, 36(3), 2004. Arnoud Boot, Financial services: consolidation and strategic positioning, in International Handbook of Competition, chapter V, edited by Manfred Neumann and Jurgen Weigand, 2004. Arnoud Boot, Consolidation and strategic positioning in banking with implications for Europe, in R.E. Litan and R. Herring (eds), Brooking-Wharton Papers on Financial Services, 2003. Beck, T., A. Demirguc-Kunt, & R. Levine, Bank Concentration, Competition and Crises, Journal of banking and Finance, nr. 30, 2004. Bianco, M., F. Ghezzi & P Magnani, L'Applicazione della Disciplina . Antitrust nel Settore Bancario Statunitense, in M. Polo (ed), Industria Bancaria e Concorrenza, Bologna: Il Mulino, (1998, p.143-258). Bill Emmott, Rivals Chapter 8, How the struggle between China, India and Japan will shape our next decade, Penguin 2008. Brusco S. and F. Castiglionesi, Liquidity Coinsurance, Moral Hazard and Financial Contagion, Journal of Finance, 62, 2007. Carletti E. and X. Vives, Regulation and Competition Policy in the Banking Sector, in X. Vives (ed.), Assessment and Perspectives of Competition Policy in Europe, Oxford University Press, 2008. Degryse H. and S. Ongena, Background Note in Competition and Regulation in Retail Banking, OECD, 2007. Degryse H. and S. Ongena, Competition and Regulation in the Banking Sector: A Review of the Empirical Evidence on the sources of bank rents, in A. Thakor and A. Boot (eds.), Handbook of Financial Intermediation and Banking, Elsevier, 2008. Dell'Ariccia, G., Asymmetric Information and the Structure of the Banking Industry, European EconomicReview, nr. 45, 2001. Elena Carletti, European University Institute, Background Note on Competition and Financial Markets prepared for OECD Global Competition Forum, 2009, February - DAF(COMP)/(2009)2. European Commission, Community Guidelines on State aid for rescuing and restructuring firms in difficulty, Official Journal C 244/2, 01.10.2004 available at: http://eurlex.europa.eu/LexUriServ/LexUriServ.do?uri=OJ:C:200 4:244:0002:0017:EN:PDF Fingleton, J., Competition Policy in Troubled Times, speech given on 20 January 2009, disponibil la linkul:www.oft.gov.uk/shared_oft/speeches/2009/spe0109.pdf. Gellhorn, Ernest and William E. Kovacic. Antitrust Law and Economics in a Nutshell, 4th ed. West Group: St. Paul., 1994.

2.

3.

4.

Cu toate cele 4 tentative de propuneri nu suntem n msur s rezolvm schimbarea structurii economiei i a pieelor pentru care este necesar o infuzie de capital strin i credite externe subsantiale n vederea refacerii echilibrelor i administrarea majoritii dezechilibrelor netratate de ani de zile. Mesajul Revistei Profil Concurenta este c : EXTREMIS MALIS EXTREMA REMEDIA N.I.N.

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Post Scriptum of the Chief Editor:


The problem of the problems in a prolonged (world) economic crisis is that the basic law of the market economy -the Competition Lawcan help resolving the precarious status of the economy, of the finances and of the State's institutions, respectively, from the political economy. 1. When the economy is falling, firms are dying and bankrupts are becoming daily issues; the payment of wages are becoming more and more difficult for a wavering Government, what is the right way to take? Our opinion is the following: if the recession is over 8.5%- also confirmed by the WMF experts-, the budgetary deficit inclines to 8.5%and the unemployment is closing vertiginously to 8%and we are witnessing a twin financial deficit etc. How can Competition Law take action in these very dreadful circumstances? Are we coming back to a protectionism limited in time? We are trying to give some answers for the problems presented at points 1 and 2: we need a good governance with measures addressed especially to the real economy and envisaging the structural segment of the crisis; we need repeated and sustainable measures, favoring self regeneration of the markets suffering the most from the crisis ( the real-estate market, credit markets, the labor market etc); the stimulation of the economy for a rapid economic growth through re-launcing the offer and increasing labor force occupation; the efficient administration of budgetary deficits by rationalizing the expenses and by increasing the cashing level by using an coercive apparatus, taking into account the existence of many non taxed economic sectors. We are suggesting the use of State aids for SMEs in difficulty and for housing construction and investments in infrastructure.

Bibliography
Allen, F. and D. Gale, Competition and Stability, Journal of Money, Credit and Banking, 36(3), 2004. Arnoud Boot, Financial services: consolidation and strategic positioning, in International Handbook of Competition, chapter V, edited by Manfred Neumann and Jurgen Weigand, 2004. Arnoud Boot, Consolidation and strategic positioning in banking with implications for Europe, in R.E. Litan and R. Herring (eds), Brooking-Wharton Papers on Financial Services, 2003. Beck, T., A. Demirguc-Kunt, & R. Levine, Bank Concentration, Competition and Crises, Journal of banking and Finance, nr. 30, 2004. Bianco, M., F. Ghezzi & P Magnani, L'Applicazione della Disciplina . Antitrust nel Settore Bancario Statunitense, in M. Polo (ed), Industria Bancaria e Concorrenza, Bologna: Il Mulino, (1998, p.143-258). Bill Emmott, Rivals Chapter 8, How the struggle between China, India and Japan will shape our next decade, Penguin 2008. Brusco S. and F. Castiglionesi, Liquidity Coinsurance, Moral Hazard and Financial Contagion, Journal of Finance, 62, 2007. Carletti E. and X. Vives, Regulation and Competition Policy in the Banking Sector, in X. Vives (ed.), Assessment and Perspectives of Competition Policy in Europe, Oxford University Press, 2008. Degryse H. and S. Ongena, Background Note in Competition and Regulation in Retail Banking, OECD, 2007. Degryse H. and S. Ongena, Competition and Regulation in the Banking Sector: A Review of the Empirical Evidence on the sources of bank rents, in A. Thakor and A. Boot (eds.), Handbook of Financial Intermediation and Banking, Elsevier, 2008. Dell'Ariccia, G., Asymmetric Information and the Structure of the Banking Industry, European Economic Review, nr. 45, 2001. Elena Carletti, European University Institute, Background Note on Competition and Financial Markets prepared for OECD Global Competition Forum, 2009, February - DAF(COMP)/(2009)2. European Commission, Community Guidelines on State aid for rescuing and restructuring firms in difficulty, Official Journal C 244/2, 01.10.2004 available at:http://eurlex.europa.eu/LexUriServ/LexUriServ.do?uri=OJ:C:2004:244:000 2:0017:EN:PDF Fingleton, J., Competition Policy in Troubled Times, speech given on 20 January 2009, available at: www.oft.gov.uk/shared_oft/speeches/2009/spe0109.pdf. Gellhorn, Ernest and William E. Kovacic, Antitrust Law and Economics in a Nutshell, 4th ed. West Group: St. Paul., 1994.

2.

3.

4.

Although we attempted to present 4 proposals, we are not able to solve the modification of the economy and market structures; for these aims is necessary an infusion of foreign capital and substantial external credits for reestablishing the equilibriums and for managing the majority of the long time untreated disequilibriums. The message of the Magazine Profil Concurena is the following: EXTREMIS MALIS EXTREMA REMEDIA N.I.N.

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Harold L. Cole si Lee E. Ohanian, New Deal Policies and the Persistence of the Great Depression: A General Equilibrium Analysis, Journal of Political Economy, University of Chicago Press, 2004, vol. 112(4). Hayashi & Prescott, The 1990s in Japan: A lost decade, Review of Economic Dynamics, 2002. Hanazaki K. and A. Horiuchi, A Review of Japan's Bank Crisis from the Governance Perspective, Pacific-Basin Finance Journal, 11, 2003. Henry C. Simons, The requisites of free competition. 26 American Economic Review , Papers and Proceedings, 26(1), (1936, p. 71). A se consulta, de asemenea, Henry C. Simons, A Positive Program for Laissez Faire: Some proposals for a liberal economic policy, reprintat in Henry C. Simons, Economic Policy for a Free Society, Chicago: University of Chicago Press (1948[1934]. Hickel, James K., The Chrysler Bail-Out Bust, Backgrounder 276. J. Taylor, The Output Effects of Government Sponsored Cartels during the New Deal, Journal of Industrial Economics, Vol. 50(1), (2002, p. 1-10). Lewis, David, Competition Law and Policy in Bad Times, speech before the DPRU (Development Policy Research Unit) Conference on Regulation, Johannesburg, 2008, October. http://www.comptrib.co.za/Publications/Speeches/lewis14.pdf. L.G. Telser, Cooperation, Competition, and Efficiency, Journal of Law and Economics, Vol. 28, (1985, p. 271-295).

Massimo Motta, Competition Policy: Theory and Practice, editura Cambridge, 2004 Organisation for Economic Cooperation and Development (OECD), Enhancing the Role of Competition in the Regulation of Banks, Background Paper in Competition Policy Roundtables No. 17, 1998, http://www.oecd.org/dataoecd/34/58/1920512.pdf. Organisation for Economic Cooperation and Development (OECD), Financial Market Trends, The Current Financial Crisis: Causes and Policy Issues, 2008. Rochet, Jean-Charles, Why Are There So Many Banking Crises? P r i n c e t o n U n i v e r s i t y P r e s s . 2 0 0 8 , http://press.princeton.edu/chapters/i8660.pdf. United States, Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, and the Department of Justice. 1995. Bank Merger Competitive Review Screening Guidelines http://www.usdoj.gov/atr/public/guidelines/6472.htm. The application of State aid rules to measures taken in relation to financial institutions in the context of the current global financial crisis, Communication from the Commission, 2008, October, 13 http://ec.europa.eu/comm/competition/state_aid/legislation/banki ng_crisis_paper.pdf. EU State aid policy and the car industry http://ec.europa.eu/enterprise/automotive/pagesbackground/com petitiveness/com_2009_104/annex_2.pdf.

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Harold L. Cole si Lee E. Ohanian, New Deal Policies and the Persistence of the Great Depression: A General Equilibrium Analysis, Journal of Political Economy, University of Chicago Press, 2004, vol. 112(4). Hayashi & Prescott, The 1990s in Japan: A lost decade, Review of Economic Dynamics, 2002. Hanazaki K. and A. Horiuchi, A Review of Japan's Bank Crisis from the Governance Perspective, Pacific-Basin Finance Journal, 11, 2003. Henry C. Simons, The requisites of free competition. 26 American Economic Review , Papers and Proceedings, 26(1), (1936, p. 71). See, also, Henry C. Simons, A Positive Program for Laissez Faire: Some proposals for a liberal economic policy, reprinted in Henry C. Simons, Economic Policy for a Free Society, Chicago: University of Chicago Press (1948[1934]. Hickel, James K., The Chrysler Bail-Out Bust, Backgrounder 276. J. Taylor, The Output Effects of Government Sponsored Cartels during the New Deal, Journal of Industrial Economics, Vol. 50(1), (2002, p. 1-10). Lewis, David, Competition Law and Policy in Bad Times, speech before the DPRU (Development Policy Research Unit) Conference on Regulation, Johannesburg, 2008, October: http://www.comptrib.co.za/Publications/Speeches/lewis14.pdf. L.G. Telser, Cooperation, Competition, and Efficiency, Journal of Law and Economics, Vol. 28, (1985, p. 271-295).

Massimo Motta, Competition Policy: Theory and Practice, Cambridge, 2004. Organisation for Economic Cooperation and Development (OECD), Enhancing the Role of Competition in the Regulation of Banks, Background Paper in Competition Policy Roundtables No. 17, 1998, http://www.oecd.org/dataoecd/34/58/1920512.pdf. Organisation for Economic Cooperation and Development (OECD), Financial Market Trends, The Current Financial Crisis: Causes and Policy Issues, 2008. Rochet, Jean-Charles, Why Are There So Many Banking Crises? P r i n c e t o n U n i v e r s i t y P r e s s , 2 0 0 8 , http://press.princeton.edu/chapters/i8660.pdf. United States, Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, and the Department of Justice. 1995. Bank Merger Competitive Review Screening Guidelines http://www.usdoj.gov/atr/public/guidelines/6472.htm. The application of State aid rules to measures taken in relation to financial institutions in the context of the current global financial crisis, Communication from the Commission, 2008, October, 13 http://ec.europa.eu/comm/competition/state_aid/legislation/banki ng_crisis_paper.pdf. EU State aid policy and the car industry: http://ec.europa.eu/enterprise/automotive/pagesbackground/co mpetitiveness/com_2009_104/annex_2.pdf.

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NOUTI N DOMENIUL CONCURENEI I AJUTORULUI DE STAT185

Antitrust

Raportul anual privind politica n domeniul concurenei pe anul 2008 Raportul privind politica n domeniul concurenei pe anul 2008, elaborat de Comisia European, prezint o imagine de ansamblu asupra principalelor evoluii ale politicii n domeniul concurenei i asupra celor mai importante msuri de punere n aplicare, ntreprinse la nivelul UE. Raportul prezint modul n care instrumentele aferente politicii n domeniul concurenei au fost folosite pentru a face fa crizei economice i financiare i evideniaz beneficiile pe care politica n domeniul concurenei le-a adus consumatorilor. Aceste activiti nu au distras atenia de la celelalte msuri de punere n aplicare a politicii n domeniul concurenei: procedurile mpotriva comportamentelor anticoncureniale, controlul concentrrilor economice i examinarea ajutoarelor de stat au continuat ca nainte. Raportul concentreaz informaii referitoare la: Reformarea politicii n vederea unor decizii mai rapide i mai bune; Concentrarea pe beneficiile aduse consumatorilor de politica n domeniul concurenei; Controlul ntreprinderilor care abuzeaz de poziia dominant; Asigurarea de rezultate concrete pentru ceteni. Raportul anual privind politica n domeniul concurenei pe anul 2008 poate fi consultat la urmtoare adres:
http://ec.europa.eu/competition/publications/annual_report/ index.html.

Consultare public pe tema revizuirii normelor de concuren aplicabile n sectorul distribuiei Comisia European invit prile interesate s formuleze observaii privind propunerea sa de modificare a regulamentului de exceptare pe categorii i a liniilor directoare referitoare la acordurile de furnizare i distribuie (restriciile verticale). Actualul regulament va iei din vigoare n mai 2010. Avnd n vedere experiena sa n aplicarea normelor menionate i observaiile formulate de prile interesate, Comisia consider c, n general, aplicarea acestora d rezultate bune i c nu ar trebui modificate n mod fundamental. Principalele sugestii de modificare intenioneaz s ia n considerare evoluiile recente ale pieei, n special creterea puterii de cumprare a marilor distribuitori cu amnuntul i evoluia vnzrilor online. Prile interesate sunt invitate s prezinte observaii pn la 28 septembrie 2009. La momentul adoptrii acestuia, n 1999, regulamentul a urmrit s reduc n mod substanial constrngerile normative asupra companiilor, n special asupra acelora care nu au capacitatea de a crete preurile fr o pierdere a profiturilor (cele care nu au putere de pia), cum ar fi ntreprinderile mici i mijlocii, i s introduc o abordare bazat pe efecte economice n ceea ce privete evaluarea constrngerilor verticale. Aceste obiective i constrngeri rmn de actualitate. Proiectul Regulamentului revizuit de exceptare pe categorii i orientrile sunt disponibile pe site-ul Europa, la urmtoarea adres:
http://ec.europa.eu/competition/consultations/2009_vertical_ agreements/index.html.

185 Material realizat de Carmen Bucur, inspector de concuren, Direcia Cercetare-Sinteze.

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NEWS IN THE COMPETITION AND STATE AID FIELD186

Antitrust

2008 Annual Report on Competition Policy The European Commission's 2008 Report on Competition Policy gives an overview of the main developments in EU competition policy and major enforcement actions. It demonstrates how the tools of competition policy were used to face the financial and economic crisis and highlights the benefits that competition policy delivers to consumers. This work did not distract from other competition enforcement: action against anticompetitive conduct, vetting mergers, and reviewing state aid continued as before. The Report presents information regarding: Reforming the policy to deliver quicker and better decisions; Focusing on the benefits competition policy brings to consumers; Policing dominant firms; Conveying strong results to the citizens. The 2008 Annual Report on Competition Policy can be found at:
http://ec.europa.eu/competition/publications/annual_report/ index.html.

Public consultation on review of competition rules for distribution sector The European Commission is calling for comments on its proposal for a revised Block Exemption Regulation and Guidelines on supply and distribution agreements (vertical restraints). The current Regulation is due to expire in May 2010. Based on its experience in their application and on stakeholders' comments, the Commission considers that the rules are working well overall and should not be fundamentally modified. The main suggestions for amendments intend to take account of recent market developments, in particular the increased buyer power of big retailers and the evolution of on-line sales on the Internet. Interested parties are invited to submit comments until 28th September 2009. At the time of its adoption in 1999, the Regulation aimed at considerably reducing the regulatory burden on companies, in particular companies without the ability to raise prices without a loss of profit (i.e. with no market power), like SMEs, and at introducing an effects-based approach to the assessment of vertical restraints. These objectives and concerns remain valid today. The draft revised Block Exemption Regulation and Guidelines are available on the Europa website at:
http://ec.europa.eu/competition/consultations/2009_vertical_ agreements/index.html.

186 Drafted and translated by Carmen Bucur, competition inspector, Research and Synthesis Directorate.

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Textul integral al comunicrii este disponibil la:


Ajutor de stat
http://ec.europa.eu/competition/state_aid/legislation/specific_rules.html.

Orientri privind ajutoarele pentru restructurare acordate bncilor


Comisia European a adoptat o comunicare prin care explic abordarea proprie n evaluarea ajutoarelor de restructurare acordate bncilor de ctre statele membre. Aceast abordare se bazeaz pe trei principii fundamentale: i) bncile beneficiare ale ajutorului trebuie s devin viabile pe termen lung fr a alt sprijin suplimentar din partea statului; ii) bncile beneficiare ale ajutorului i proprietarii acestora trebuie s suporte o parte corespunztoare din costurile de restructurare; i iii) trebuie adoptate msuri de limitare a denaturrii concurenei pe piaa unic. Orientrile, care sunt n vigoare pn la 31 decembrie 2010, explic n special modul n care Comisia intenioneaz s aplice aceste principii n contextul actualei crize financiare sistemice, astfel nct s contribuie la restabilirea viabilitii sectorului bancar european. Comisia se confrunt cu un numr mare de cazuri individuale de restructurare a bncilor ca urmare a msurilor privind ajutoarele de restructurare acordate bncilor, aprobate cu condiia ca un plan de restructurare s fie prezentat n termen de ase luni. Pentru ncurajarea transparenei, a predictibilitii i a egalitii de tratament ntre statele membre, Comisia a adoptat orientri care s clarifice abordarea acesteia, criteriile pe care i va ntemeia evaluarea i informaiile necesare evalurii. Aceste orientri se ntemeiaz pe articolul 87 alineatul (3) litera (b) din Tratatul CE, care permite acordarea ajutoarelor de stat n cazul unei perturbri grave a economiei. Acestea sunt temporare i se vor aplica pn la sfritul anului 2010. Dup aceast dat se reia aplicarea normelor obinuite privind salvarea i restructurarea, bazate pe articolul 87 alineatul (3) litera (c) din Tratat (ajutoare pentru dezvoltarea unor anumite activiti sau zone economice cu condiia ca acestea s nu afecteze negativ condiiile comerciale ntr-o msur contrar interesului comun).

Comisia European actualizeaz normele pentru finanarea de ctre stat a organismelor publice de radiodifuziune Comisia European a adoptat o nou Comunicare privind ajutoarele de stat pentru finanarea serviciilor publice de radiodifuziune. Comunicarea stabilete un cadru clar pentru dezvoltarea serviciilor publice de radiodifuziune i ofer o securitate juridic sporit investiiilor efectuate att de serviciile de mass-media publice, ct i de cele private. Noua comunicare nlocuiete Comunicarea Comisiei privind radiodifuziunea din 2001. n comparaie cu textul anterior, noua comunicare acord o atenie sporit responsabilitii i eficacitii controalelor la nivel naional, inclusiv evalurii transparente a impactului global al noilor servicii mass-media finanate din fondurile publice. Principalele modificri aduse de noua comunicare se refer la: evaluarea prealabil a noilor servicii importante lansate de serviciile publice de radiodifuziune (comparnd impactul pe pia al unor astfel de servicii i valoarea public a acestora); clarificri privind includerea serviciilor contra cost n misiunea de serviciu public; un control mai eficace al supracompensrii i monitorizarea respectrii misiunii de serviciu public la nivel naional; o flexibilitate financiar sporit pentru organismele publice de radiodifuziune. Comunicarea are drept obiectiv asigurarea unei caliti superioare a serviciilor publice de radiodifuziune pe diferite platforme, de la internet la ecranele instalate n spaii publice. Textul comunicrii este disponibil la adresa:
http://ec.europa.eu/competition/state_aid/legislation/specific_ rules.html#broadcasting.

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State Aid

The full text of the Communication is available at:


http://ec.europa.eu/competition/state_aid/legislation/specific_ rules.html.

Guidelines on restructuring aid to banks The European Commission has agreed a Communication explaining its approach to assessing restructuring aid given by Member States to banks. The approach is based on three fundamental principles: i) aided banks must be made viable in the long term without further state support, ii) aided banks and their owners must carry a fair burden of the restructuring costs and iii) measures must be taken to limit distortions of competition in the Single Market. The guidelines, which are in force until 31 December 2010, explain in particular how the Commission intends to apply these principles in the context of the current systemic financial crisis, with a view to contributing to the return to viability of the European banking sector. The Commission has to deal with a large number of individual cases of bank restructuring, which follow from bank rescue aid measures approved on the condition that a restructuring plan would be submitted within six months. In order to foster transparency, predictability and equality of treatment between Member States, the Commission has issued guidelines to clarify its approach, the criteria it will base its assessment upon and the type of information required to guide this assessment. These guidelines are based on Article 87.3b) of the EC Treaty, which authorizes state aid in case of a serious disturbance in the economy. They will be temporary and apply until the end of 2010. After that date, the normal rules on rescue and restructuring, based on Article 87.3c) of the Treaty (aid for the development of certain economic activities or areas where such aid does not adversely affect trading conditions to an extent contrary to the common interest) should resume.

European Commission updates rules for state funding of public broadcasters The European Commission has adopted a new Communication on state aid for the funding of public service broadcasters. The Communication provides a clear framework for the development of public broadcasting services and enhances legal certainty for investment by public and private media alike. The new Communication replaces the Commission's 2001 Broadcasting Communication. The main changes include an increased focus on accountability and effective control at the national level, including a transparent evaluation of the overall impact of publicly-funded new media services. The main changes in the new Communication concern: the ex ante control of significant new services launched by public service broadcaster (balancing the market impact of such new services with their public value); clarifications concerning the inclusion of pay services in the public service remit; more effective control of overcompensation and supervision of the public service mission on the national level; increased financial flexibility for public service broadcasters. The Communication is designed to ensure high quality public broadcasting services on a variety of platforms, ranging from the internet to screens in public places. The text of the Communication is available at:
http://ec.europa.eu/competition/state_aid/legislation/specific_ rules.html#broadcasting

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tiprit la:

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