The EU Method of Antitrust Enforcement

This chapter critically analyses the methodology of the EU antitrust enforcement regime against its stated aim of punishing and deterring hard-core horizontal cartel infringements. It does this by addressing four key areas: (1) the substantive prohibition contained in Article 101 TFEU; (2) the method of calculating fines; (3) the use of leniency and settlement notices; and (4) the use of sanctions at the Member State level, as a complement to the enforcement work of the European Commission. It concludes that there are significant limitations to this regime’s deterrent effect and that further alternative sanctions to corporate fines are needed.