High-ranking EU competition official states that cartel victims could claim EUR 20 billion of com-pensation per year, and that current obstacles for such claims should be removed
The European Commission has already imposed EUR 1,669 million in fines for cartel behaviour so far this year. With each fine, the EU urges custo-mers to claim damages before national courts, to deter companies even more from anti-competitive behaviour. EU case law confirms that in national civil cases a EU Commission decision is binding proof that the behaviour took place and was illegal.
In a recent speech the highest ranking EU compe-tition official stressed it may currently be too difficult for cartel victims to recover their damages under national laws and that action is needed. These victims are foregoing up to EUR 20 billion of compensation per year due to obstacles they face under national rules governing actions for dama-ges. The EU is currently holding a consultation on how to remove these obstacles.
Click here for the full speech.