European Union Law - Article 101(1) Treaty on the Functioning of the Assignment - 1

European Union Law - Article 101(1) Treaty on the Functioning of the European Union - Assignment Example It also increases the part played by national completion authorities (NCA) and national courts in enforcing EU competition law therefore warranting an effective and even application (Cavicchiolli 1991). The main EU competition rules are encompassed in article 101(treaty on the functioning of the European Union TFEU) which covers anti-competitive agreements. The new rules came into force as from June 1, 2010 and will expire in May 2022.A paramount aim of the founding fathers of the European community was creation of a single market. To accomplish this, a compatible, fair and transparent regulatory framework had to be established. The first major decision under article 101 was taken by the commission in 1964 (Kimmer 2011). There is debate surrounding the purpose of the law of competition while some assert that it serves as elimination for substandard firms that are non-competitive. It is argued that the law stands in the way of free flow of goods and services. The general court says that the law is to protect the final consumer whereas Stephen (2010) states its purpose in protection of member states as a whole. The overall bargain however is to maintain a balance between undertakings and the consumer. Article 101 is construed widely. It includes formal and informal agreements, concerted practices where businesses tend to increase or decrease prices simultaneously without physically consenting to do that. Coincidental price increase or reduction will not itself uphold as a concerted activity hence there should be proof that the parties involved were knowledgeable of the fact that their actions may destabilize the normalcy of competition operation within the internal market. In the light of agreements, sheer anti-competitive influence is ample to make it unlawful despite parties being unaware of it or having no intent to spur the effect to occurrence (Okeoghene, 2006). In