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German economy minister aims to tighten antitrust laws

Monday, June 13, 2022
German economy minister aims to tighten antitrust laws © Reuters. FILE PHOTO: German Vice Chancellor Robert Habeck arrives to meet Palestinian Prime Minister Mohammad Shtayyeh in Ramallah, in the Israeli-occupied West Bank June 7, 2022. REUTERS/Mohamad Torokman

FRANKFURT (Reuters) - German Economy Minister Robert Habeck plans to present concrete proposals to tighten the nation's antitrust laws and give the Federal Cartel Office more powers, according to a position paper circulated by his ministry on Sunday.

The move comes amid his concerns that energy companies are not passing on to consumers a recent cut in tax on fuel that was enacted to help offset soaring inflation.

The ministry foresees reducing hurdles to confiscate profits and giving the cartel office additional powers to intervene, according to the document dated June 11.

"Although such a tightening of competition law cannot have a short-term effect in the current situation, it can give the state the necessary strength to intervene more effectively in the future," the paper said.

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26-06-2022 18:02:12 (UTC+7)

EUR/USD

1.0554

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EUR/USD

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 EUR/USD1.0554Buy
 GBP/USD1.2272↑ Sell
 USD/JPY135.23↑ Buy
 AUD/USD0.6944↑ Sell
 USD/CAD1.2891↑ Sell
 EUR/JPY142.71↑ Buy
 EUR/CHF1.0114↑ Sell
 Gold1,828.10↑ Buy
 Silver21.130Sell
 Copper3.7365Sell
 Crude Oil WTI107.06↑ Sell
 Brent Oil113.19↑ Sell
 Natural Gas6.173↑ Buy
 US Coffee C223.40↑ Buy
 Euro Stoxx 503,533.17Neutral
 S&P 5003,911.74↑ Buy
 DAX13,118.13↑ Sell
 FTSE 1007,208.81↑ Buy
 Hang Seng21,719.06↑ Buy
 Small Cap 20001,765.74↑ Buy
 IBEX 358,244.10Sell
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 Bayer57.79↑ Sell
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 Adidas170.36↑ Sell
 Lufthansa5.966↑ Sell
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