Brussels, 21/05/2001 (Agence Europe) - During the 10th international conference on competition organised in Berlin this 21-22 May, the Competition Commissioner Mario Monti, spoke over the application of competition rules in the new economy, in a speech made before the Bindeskartellamt, German competition authority. The Commissioner first raised the benefits resulting from the development of the new economy for competition authorities: greater transparency both with regards to goods and services delivered as in terms of prices, growth in the size of markets caused by the use of the Internet (which favour the penetration of external markets by companies where they were not previously present), and reduction of transnational costs whose consequences are reflected, in the end, on consumers, beneficiaries of increased competition. However, these benefits must not lead to loosing sight of the flip side, and the Commissioner refutes the argument according to which the anti-trust rules are no longer necessary (the market will correct the failings) and would become impossible to apply (the changes would be too fast to allow the authorities to formulate their decisions in the given time). Thus, the lowering of prices caused by increased competition compresses the profit margins of companies; they may be tempted to form, to compensate, price agreements, which force the authorities to redouble their vigilance. On the other hand, even in the sectors of advanced technology, there remains significant domination by the market in the long-term, whatever the speed at which the competitors are able to develop new more performing products. Finally, the fact that former monopolies (especially in terms of telecommunications) dominate numerous European markets, among which those of the Internet and e-commerce, force the national and European authorities to remain vigilant so that they do not abuse their privileged position. To conclude, Commissioner Monti underlined once more the need to deepen the dialogue between Europe and the anti-trust authorities throughout the world, the sectors of the new economy not being affected, more than others, by geographic barriers. Moreover, it is important, according to him, to ensure the most supple interpretation possible of the rules in order to adapt them in the best way possible to a sector in continuous change.