The Millenium Approaches: Rethinking Article 85 and the Problems and Challenges in the Design and Enforcement of the EC Competition Rules

This Essay contributes to the discussion of competition law reforms, both at the level of the European institutions and within the Member States of the European Union, by considering the scope for altering the economic evaluation performed in the context of Article 85 of the EC Treaty. The Essay first describes, and accounts for, the European Commission\u27s current interpretation of Article 85. The Essay then presents a number of criticisms of that interpretation and assesses possible changes to the present system of European competition enforcement. Finally, examples are given from the case law of the Court of Justice and the Court of First Instance where a rule of reason approach has been applied. This Essay concludes that the introduction of a rule of reason is not only desirable but practicable within the framework of European competition rules as they already exist