European Commission seeks to raise money for its budget via antitrust fines

Posted by D. Daniel Sokol

If this news report is to be believed, antitrust is being used as a revenue raising weapon to fill the EU budget gap. This is politicalization of antitrust in a way that is not welfare enhancing. The Washingtin Times reports:

The European Commission says it needs an additional $11.7 billion to meet all of the commitments to the European Union in the 2012 budget. The commission, the EU’s executive arm, adopted an amending budget last week, but it must be approved by the European Parliament and the 27 EU national leaders. The EU says about a third of the money can be raised from antitrust fines and other penalties. (italics added)