Watch the European Union Monopolistic Practices

VIVAnews - the new EU Commissioner for competition policy, Joaquín Almunia, said it would maintain strict policies regarding monopolistic behavior. This means, companies will still face high fines if the violation of regulations concerning industrial monopolies. These conditions remain valid even if the economy in crisis.

As reported the New York Times, the predecessor Almunia, Neelie Kroes, impose a fine of around 1.6 billion euros to a number of companies last year. In addition, the European Commission also put more than 1 billion euros or U.S. $ 1.4 billion to Intel for violating the rules of monopoly industries, including the Microsoft. Penalties are still the highest fine ever levied against a European Union company. Intel itself is to appeal against the decision.

Industry antitrust authority the United States also is investigating Intel to determine whether the behavior of the hardware company could drop its competitors and undermine the business climate of healthy competition.

In the first speech to the new position, Almunia said that there is no need to no longer rely on strict policies regarding industry competition due to the economic crisis. He would impose a fine that will make the company learned my lesson and will no longer be in violation of monopoly.

Under EU rules, companies could be fined up to 10 percent of global revenue per year to them, although most of the fines, including those imposed on Intel, not to reach that level.

While in the U.S., such as the Department of Justice authority often impose a fine lower than in Europe for business groups or other monopoly scofflaw. But unlike in Europe, the company, shareholders, and consumers in the United States often sue these companies and could win significant damages claims.

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