This book discusses the role of public policy in Article 81 of the EC Treaty. The Commission, and recently the Court of First Instance have said that the sole objective of Article 81 EC is consumer welfare. Many competition lawyers and economists support this view. Writing in a crisp, plain style, Townley demonstrates that public policy considerations are still relevant in that provision. He also examines how and where they are currently considered and then suggests why, how and where this might be changed.

The book explains how some of the most complex competition law cases can be understood and offers a framework for those fighting or deciding such cases in the future. As such, it will be of interest to European competition lawyers, both academics and practitioners (furnishing them with a framework for hard cases), as well as students, seeking a deeper understanding of how the European competition rules work and how they interact both with European Union and Member State public policy goals. It will also help competition economists by revealing the mechanisms through which public policy considerations impact upon the consumer welfare test in European law.

Introduction
Part A: Considering Public Policy Objectives In Competition Law
Introduction To Part A
Chapter 1: Competition Policy and Public Policy Objectives in a Theoretical Framework
1. Introduction
2.Why Competition Policy Might Include Public Policy Objectives
3.When Competition Policy Might Include Public Policy Objectives
4. Conclusion
Chapter 2: Competition Policy and Public Policy Objectives in a Community Law Framework
1. Introduction
2. In Favour of Balancing in Article 81 EC
3. Objections to Balancing in Article 81 EC
4. Conclusion
Conclusion of Part A
Part B: How and Where is Public Policy Balancing Performed in Article 81 EC?
Introduction to Part B
Chapter 3: How The Balance Is Implemented – Mere-Balancing in Article 81(1) EC
1. Introduction
2. Compromise Within Article 81(1) EC
3. Two Related Questions
4. Conclusion
Chapter 4: How The Balance Is Implemented – Mere-Balancing In Article 81(3) EC
1. Introduction
2. Compromise Within Article 81(3) EC
3. The Balance
4. Conclusion
Chapter 5: How The Balance Is Implemented – Market-Balancing In Article 81 EC
1. Introduction
2. Consumer (or Producer) Welfare
3. Productive and Dynamic (or Allocative) Efficiencies
4. Partial (or Total) Equilibrium
5. Conclusion
Conclusion of Part B
Part C: How and Where Should Public Policy Balancing Be Performed in Article 81 EC?
Introduction to Part C
Chapter 6: How and Where Should Public Policy Balancing Be Performed in Article 81(1) EC?
1. Introduction
2. Prevention, Restriction or Distortion of Competition
3. The Relevance of Public Policy Objectives in Article 81(1) EC
4. Conclusion
Chapter 7: How and Where Should Public Policy Balancing Be Performed in Article 81(3) EC?
1. Introduction
2. The First Test: Balancing in the Public Interest
3. The Second Test: Consumers' Fair Share of the Resulting Benefit
4. The Third Test: Indispensability, Article 81(3)(A)
5. The Fourth Test: Do Not Eliminate Competition, Article 81(3)(B)
6. Conclusion
Chapter 8: A Framework For Balancing In Article 81 EC
1. Introduction
2. Defining an Over-arching Objective
3.Weight for the Right Balance
4. Comparing Apples and Pears – A Common Meter
5. Conclusion
Conclusion of Part C
Conclusion
Bibliography
Books And Chapters
Articles
Speeches
Non-Community Legislation, Guidelines, Court Judgments And Reports
Community Legislation, Guidelines And Reports
Community Cases
Community Commission Decisions
Newspaper Articles

“A un moment où l'économie européenne est secouée par une crise qui amène certains à remettre en discussion ses fondements mêmes, C. Townley prend le risque de nous faire replonger dans le plus classique des débats concernant le droit de la concurrence… quelles sont les valeurs qui justifient l'existence même d'un droit de la concurrence, valeurs que ce droit devrait contribuer à protéger et à mettre en oeuvre ? Il s'agit d'une question à la fois fondamentale et particulièrement actuelle, dans la mesure où c'est précisément dans les moments de crise que la robustesse d'un système antitrust est mise à l'épreuve.
L'auteur traite cette question avec une rigueur méthodologique évidente dès les premières pages. L'ouvrage est soutenu par une charpente solide, d'autant plus efficace qu'elle est très clairement indiquée à chaque étape du raisonnement juridique. Celui-ci conduit le lecteur vers une conclusion, qui, si elle n'est pas inédite, est certainement loin de faire l'unanimité : la concurrence ne se résout pas à une équation économique…
Le travail de C. Townley a le grand mérite de mettre en exergue les spécificités du droit européen de la concurrence qui, comme la Cour de justice l'a répété dans sa jurisprudence, a une portée très large. En effet, le régime de concurrence européen a toujours été un instrument pour la réalisation d'objectifs qui ne sont pas seulement économiques. La rigueur de l'analyse mène l'auteur à identifier très précisément les failles d'un système qui semble être moins mûr et moins développé que certains prétendent. Cette rigueur dans la recherche des aspects du système qui peuvent être améliorés permet au livre de s'appuyer sur une pars destruens très convaincante. Les conséquences de cette rigueur sur la pars construens du raisonnement aboutissent cependant à une conclusion qu'il sera très difficile de mettre concrètement en oeuvre, ce que l'auteur lui-même reconnaît d'ailleurs à plusieurs reprises. La mise en balance d'objectifs publics est par sa nature même une opération non seulement très délicate à effectuer, mais surtout très ancrée dans chaque cas d'espèce. La rédaction de lignes directrices à cet égard, bien que certainement souhaitable pour augmenter le degré de transparence du système, peut représenter une difficulté presque insurmontable pour la Commission (meme en admettant que celle-ci ait non seulement la volonté de les rédiger mais aussi intérêt à le faire).

” –  Paolo Iannuccelli, referendaire at the European Court of Justice, Revue trimestrielle de droit européen

“The treatment of the subject is rich and full of interesting intuitions...This is certainly an interesting book dealing with a topic which had not yet been addressed in an English language monograph so far.
One can only hope that scholars will be encouraged to respond to these stimulating and controversial ideas addressing the many questions which they raise or leave unexplored.
” –  Renato Nazzini, European Law Review, Volume 36,

“In general, this study constitutes a unique look at the policy and problems of Article 81, particularly some of the controversial decisions which it has produced.
The author's critical remarks and references are invaluable
” –  Caroline Si Bouazza, Concurrences, No 1,

“In light of today's new and intriguing context, the paucity of recent and systematic analyses in this area is deplorable. Christopher Townley's work is therefore most welcome and of great practical relevance.” –  Ben van Rompuy, European Competition Law Review, Volume 31, Issue 5,

“Townley has written a much needed book.
This book provides a good starting point for the further examination of the important question 'Why, how, and when might public policy have a part to play in contemporary EC competition analysis?'.
” –  Anne-Kathrin Kühnel, Cambridge Law Journal, 69, 1,

“The book will serve as a rich and comprehensive source of reference with many useful discussions and direct the reader to helpful instruments to tackle a very controversial, ultimately highly political problem.
The book reflects the latest comprehensive study on the relevance of the public policy and considerations in Article 81 EC.
” –  Constanze Semmelmann, Common Market Law Review, Volume 47, Issue 3

“Article 81 EC and Public Policy constitutes a timely and constructive contribution to the debate on the direction of competition policy in changing and challenging times. Christopher Townley gives a dispassionate and convincing account of the trends and themes characterising the application of Article 101 TFEU ... his commentary is extremely exhaustive and engaging and encourages stimulating reflection in the reader and, it is hoped, food for thought for policy makers at EU and national level.” –  Arianna Andreangeli, The Competition Law Review

“The only book in the English language to date that goes into the ex-Article 81 EC policy ideas exclusively and to this detail.
Townley's writing style is crisp and clear
” –  Dr Robin van der Hout LLM, Yearbook of European Law, Vol 29, No 1,