![]() The reforms were adopted by the EU as Regulation 139/2004 (known as ECMR). On 11 December 2002, Monti proposed a series of reforms to the EU's merger rules and made structural changes within the Commission's Competition department which aimed to improve transparency for companies throughout the merger review process. Dan Rubinfeld, economics professor at the University of California who worked on the US Justice Department's antitrust case against Microsoft, said of Monti, "There has been a lot of talk of politics in this and other cases, but I believe he has been driven entirely by the desire to do the right thing." Monti, however, was defended by supporters who saw his actions as an important step in the development of competition law in the EU. On 1 November 2002, Monti responding to the European Court of Justice's ruling which reversed his decision to block the merger between Airtours & First Choice Holidays said, "Last week was a tough week for the Commission's merger control policy and of course for me." This ruling in combination with his decision to block the General Electric & Honeywell merger led to criticism in the United States against both the Commission's procedures and accusations that Monti's decisions were politically motivated. ![]() Monti was criticised in the media and by competition lawyers for the perceived inflexibility of the merger oversight process and the high number of cases that were being blocked. Mario Monti served as a European Commissioner from 1995 to 2004. Monti was also responsible for levying the EU's largest ever fine at the time (€497 million) against Microsoft for abusing its dominant market position in 2004. His term in office also saw the European Court of Justice, for the first time, overrule the Commission's decision to block a merger in three separate cases, although two were decided by his predecessor. Īs Competition Commissioner, Monti led the investigation into a number of high-profile and controversial mergers, including: Scania AB & Volvo (1999), WorldCom & Sprint (2000), General Electric & Honeywell (2001), Schneider Electric & Legrand (2001) and Carnival Corporation & P&O Ferries (2002). In 1999, Prime Minister Massimo D'Alema confirmed Monti's appointment to the new Prodi Commission and he was given one of the most powerful positions at the Commission, with responsibility for Competition. His work with the Commission earned him the nickname " Super Mario" from his colleagues and from the press. ![]() In his office as a European Commissioner from 1994 to 1999, he was responsible for internal market, financial services and financial integration, customs, and taxation. In 1994, Monti was appointed to the Santer Commission, along with Emma Bonino, by Prime Minister Silvio Berlusconi. His research helped to create the "Klein-Monti model", aimed at describing the behaviour of banks operating under monopoly circumstances. ![]() He also served as President of the SUERF (The European Money and Finance Forum) from 1982 to 1985. Monti began his academic career at the University of Trento, before moving to teach economics at the University of Turin from 1970 to 1985, and finally to Bocconi University, where he was appointed Rector in 1989, and President in 1994. Later, he won a scholarship to Yale University where he studied under James Tobin, a recipient of the Nobel Prize in Economics. Monti studied at the private Leo XIII High School and attended Bocconi University of Milan, where he obtained a degree in economics in 1965. Monti's father went back to Argentina during World War II, but later returned to his family home in Varese. Although his father grew up in Varese, he was born in Luján in the Buenos Aires Province, Argentina, where his grandfather Abramo had emigrated to from Italy in the 19th century and built up a soft-drink and beer-production business. Mario Monti was born in Varese on 19 March 1943. Monti was sworn in as Prime Minister on 16 November 2011, just a week after having been appointed a Lifetime Senator by President Napolitano, and initially became Minister of Economy and Finances as well, giving that portfolio up the following July.įrom to 17 October 2013, Monti was the president of Civic Choice, a centrist political party in Italy. On 12 November 2011, in the midst of the European sovereign debt crisis, Monti was invited by President Giorgio Napolitano to form a new technocratic government following the resignation of Silvio Berlusconi. Monti has also been rector and president of Bocconi University in Milan for many years. Monti served as a European Commissioner from 1995 to 2004, with responsibility for the Internal Market, Services, Customs and Taxation from 1995 to 1999 and for Competition from 1999 to 2004. Mario Monti OMRI (born 19 March 1943) is an Italian economist and academic who served as the Prime Minister of Italy from 2011 to 2013, leading a technocratic government in the wake of the Italian debt crisis.
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