A bill to curb the power of major tech companies in the European Union may be delayed due to arguments between different committees in the European parliament, writes The Financial Times.
The law on digital markets has been on the table since December, but has yet to be discussed by the European Parliament. The law must make it possible to tackle unfair competition by companies such as Facebook and Amazon, for example by splitting them up.
Various committees within parliament argue about who can take the lead in the discussions surrounding the bill. The quarrel revolves around the question of whose portfolio the bill falls under exactly.
Concerned politicians hope according to The Financial Times that a decision will be taken at the end of March.
Margarethe Vestager, Vice-President of the European Commission and Commissioner for Competition, wants the bill to be passed in early 2022. Last week, Vestager again insisted on speeding up discussions. “Now is the time when, as David Bowie would say, you can be heroes.”
The European Union hopes to use the law to pursue a Europe-wide policy on tech companies. However, laws around tech giants are also being worked on in France and Germany. That is one of the reasons why European legislators think that there is a hurry. The concern that companies like Amazon can drive all competitors out of the market in the medium term also plays a role.
The arguments are a normal part of the process, according to concerned lawmakers The Financial Times. They believe it is feasible to pass the law early next year.
Source site www.nu.nl