Brussels 30/10/2001 (Agence Europe) - Attending round table talks on the effects of globalisation on competition ("Globalisation, Megamergers and Strategic Alliances: Multilateralism of Competition Law?"), organised by the Deutsche Stifung für Internationale Rechtliche Zusammenarbeit, Commissioner Monti warned Hungary about the necessity of upgrading its anti-trust legislation so that it was compatible with Community law. He stressed that in its current condition it might prevent Hungary from completing negotiations on the competition "chapter" in its EU accession talks this year. Mr Monti was particularly critical of Hungary's record on giving big tax breaks to foreign firms. He stated that, "Some progress has been made in the area of state aids, but there remains a considerable problem…that is the fiscal aid to companies". After holding talks with Hungary's Foreign Minister Janos Martonyi, Mario Monti declared in a statement to the Reuters press agency that, "In the present form, we believe the tax concessions given are not compatible with Community rules and should be stopped." Since the fall of communism in Hungary, the government has granted foreign companies generous tax concessions to attract foreign investment. Mr Martonyi admitted that there was a "difference in views in economic and legal terms" between Hungary and the EU over tax concessions and acknowledged that it could hinder the closure of competition policy negotiations with Member States but still believed that competition policy would not be an obstacle to closing EU accession negotiation by the end of 2002.