U IT IS NOT ABOUTREBUILDINGTHE WORLD ASIT WAS BEFORE, 9 Thanks to the cooperation with Member States,the Commission has adopted more than 500 decisionsto support businesses affected by the Covid-19 crisis.These decisions cover more than €3 trillion of state aid.The temporary framework is in place until the end of 2021.We will continue to assess the situation to decide onBUT BUILDINGA NEW ANDBETTER WORLD.three pillars: the development of new instrumentswhere gaps have been identified in our existing tools;the updating of our existing body of regulation andprocesses; and the clarification of existing rules in areas,which are often new, where competition rules seemto be perceived as a barrier to beneficial activities.P an exit strategy at the right time and in the right way.Firstly, with regard to the gaps that have been identified, We are also working on the recovery. It is not aboutwe have already introduced, withthe Digital Markets Act, rebuilding theworld as it was before, but building a newdraft legislation on digital markets in order to address and betterworld. The Recovery and Resilience Facilityissues such as unfair competition from the largest online represents a historic opportunity to make Europe greener,platforms (the "gatekeepers"). The legislative work is more digital and more resilient. We are also workingprogressing intensively, with excellent contributions closely with Member States on their national recoveryfrom national competition authorities, including the plans, to ensure that these plans cover the green andFrench Autorité de la concurrence, which is very active. digital ambitions of Europe. Supervision of state aids willI sincerely hope that the ambition to finalise the legislation also play an important role in the deployment of theduring the French Presidency of the European Council in funds. In order to facilitate the work, we have published2022 will be realised. Moreover, we are working on a very 13 documents to guide Member States and allow them toimportant project to ensure healthy and fair competition easily assess the investment projects corresponding towith the European Union’s trading partners, who grant the "European Flagships Initiatives" of the Commission’ssubsidies without the same controls as those we apply Annual Sustainable Growth Strategy 2021. These documentsto Member States. We published our White Paper in explain when state aid rules do not apply or which typesJune 2020 examining the problem of unfair competition of investments do not have to be notified. And we arein the internal market due to foreign subsidies, and examining as a matter of priority all state aid notificationsproposing several solutions. Following the public received from Member States under the Recovery andconsultation, we are close to adopting a legislative Resilience Facility. We want to ensure that the processproposal. Secondly, as regards the review of our body is as agile and effective as possible for the recoveryof the European economy, in full compliance withcompetition rules.The reform of European competitionlaw is in progress. What are the mainstrands of this, and what is the timeframe?European competition law is based on fundamentalprinciples of fairness, choice, openness and opportunityfor all. These principles are as relevant today as they werewhen the Treaty of Rome was signed 60 years ago.But the rules for applying these principles must beadapted to economic developments and the challengeswe face. Our priorities are also changing. This is the casein particular with regard to the ecological and digitalof regulation, we have carried out an assessment of thejudicial and procedural rules and processes in mergercontrol, focusing on turnover thresholds. The objectiveis to gauge whether they are effective in capturing thetransactions which are most damaging to competition(including "predatory acquisitions"). Our ambition isalso to simplify our current procedures. Rather thanadapting turnover thresholds or adding new thresholds,we decided on 26 March 2021 to issue guidance onthe referral mechanism under Article 22 of the MergerRegulation. As such, the Commission will revert toaccepting referrals from Member States that are notcompetent to examine a transaction. In the future,we hope to develop our practice of referrals underArticle 22 in specific cases, thanks to our cooperationwith Member States, and to refine our approach based onthe experience gained. This mechanism will allow us toexamine problematic transactions that would haveE transition. That is why, during this mandate,escaped merger control in the EuropeanUnion under we have launched a comprehensive review of our rulesthe current thresholds - without creating more notification for our three instruments: the control of anticompetitiveobligations for the large amount of non-problematic practices, mergers and State aid. Our review is based on transactions. … TALK