| dc.description.abstract | 2011 was a year of turbulence. The financial crisis turned into a sovereign debt crisis in parts of the euro area, threatening the banking sector and the fiscal sustainability of many European governments. It also severely impaired credit flows towards the real economy. In that economic context, fair competition continues to be an essential condition for the full realisation of the Internal Market and a key component of a common strategy to contribute to the recovery of the European economy and thrive at the global level. This Communication presents how in 2011 the Commission used competition policy as an instrument in the resolution of the financial and sovereign debt crises and how, generally, competition policy and enforcement actions taken during the year contributed to the wider policy objectives of the Europe 2020 strategy and supported growth, jobs and the competitiveness of the EU economy. Using a new format, this Communication gives a non-exhaustive overview of Commission activities in the field of competition policy in 2011, with a particular focus on the financial services, food and airline sectors. The new structure aims at better explaining how the Commission implements competition policy and how the policy contributes to the European economy and to increasing the welfare of EU citizens. A dedicated section on interinstitutional relations reports on the continuous dialogue with the European Parliament and how the Commission responds to its requests. Further information can be found in a more detailed Commission Staff Working Document (SWD) and on the website of the Competition Directorate-General. |
