The European Commission today approved Bayer’s acquisition of Monsanto. MEP Sven Giegold, financial and economic policy spokesperson of the Greens/EFA group commented:
„This is a toxic decision for European democracy. The merger leads to a dangerous concentration of power. The EU Commission’s decision in favour of the new mega-corporation and against consumers is a breeding ground for anti-European sentiment. The EU Commission has not taken seriously enough the unease of hundreds of thousands of Europeans about the concentration of power. The Commission’s conditions do little to curb such excessive concentration of power. The EU Commission confirmed the prejudice of many citizens that private interests are above the common good. This is a bad day for European democracy.
Commissioner Vestager could have used her merger control instruments more rigorously. The EU Commission seems to lack the courage for a future-oriented competition policy. It is too focused on market concentration in individual sectors. Social and ecological aspects are hardly taken into account.
The accusation of excessive lobbying in Brussels is getting new food. We will make competition policy the subject of the European election campaign. Europe needs a competition policy that also takes into account the consequences for democracy, consumers and the environment“.