November 6, 2012
The consumer, once king, is missing in the EU interchange fee debate
Posted by D. Daniel Sokol
David Evans (Global Economics Group, University of Chicago) argues The consumer, once king, is missing in the EU interchange fee debate.
ABSTRACT: When the European General Court’s MasterCard Judgment came down my wife and I were celebrating a significant wedding anniversary with a long-planned trip to Sicily. Even though I was curious, and EU court decisions are most riveting, I decided to stick with a Nesbo mystery novel for my beach reading. Recently, the OECD asked me to attend a gathering of competition authorities to discuss developments in the payments industry. The time for procrastination was over. I ploughed my way through the Court’s 336 paragraphs and refreshed my memory of the European Commission’s decision.
I discovered there was a mystery here too: the European consumer, once the King served by EU competition authorities, has disappeared. Before I get to the consumer’s curious disappearance, I’ll provide a review of the Commission’s decision and the Court’s judgment.
November 6, 2012 | Permalink
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