Legislators in the European parliament have compiled a comprehensive, 167-page report on competition policy, shaming Brussels for being too slow to tame Big Tech.
The report comes as regulators in the EU seek to enact new rules to curb the power of companies such as Google and Facebook and set out clear guidance on taking down illegal content.
MEPs think the European Commission has been too slow to act on antitrust enforcement. By the time Brussels hands out fines — often seen as the cost of doing business for a company such as Amazon — it is too late to save a healthy market. “We want the commission to hurry up,” said a person involved in drafting the report.
The report is an attempt to renew political pressure on the EU to come up with tough rules for large online platforms. MEPs will play a crucial role in passing these proposed laws sometime in 2022. The report is still being discussed, and it is set to be voted on by MEPs in April. Here are some of the takeaways of the draft seen by the Financial Times:
This weekend’s FT Magazine feature lays out how the rise of renewables is set to upset the global balance of power for countries that rely on the export of fossil fuels. Many Middle East countries are set to see their influence decline under the green revolution, while in Europe, Russia could lose the most from the shift to renewables. (chart via FT)
MEPs on the foreign affairs and trade committees present their draft report on the UK-EU trade deal. The public debate begins at 10.00 (CET).