The banks can have a decisive impact on the competitive conditions in this country for the future. Since the crash, the Competition Authority has sought to influence the development and to prevent distortions of competition. Some of this has gone well, but elsewhere there are serious warning signs. This is discussed in a column. No. 2/2011, which is published today.
The coverage of recent days and weeks regarding banks' management of businesses clearly shows how important competition issues are for the recovery of the business sector. Any well-reasoned and considered debate on these matters is to be welcomed, as it provides necessary scrutiny for the banks, the companies under their control, and the government involved.
The Competition Authority has sought to address publicly the banks' restructuring of businesses. With that in mind, this article outlines the Competition Authority's involvement in these matters over the past few quarters and the principles on which the authority bases its work. It also attempts to assess how successful its efforts have been to date.
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