Rule-violating digital firms should only be broken up as a last resort and fines were a better way to keep them in line, the EU’s anti-trust chief, Margrethe Vestager, told MEPs on Tuesday (8 October). “Breaking up companies is a tool that we have available, it can be done. But the thing is, I have an obligation to use the least intrusive tool in order to restore fair competition,” she said. The 51-year-old Danish politician spoke at a European Parliament hearing in her bid to become a European Commission vice-president in charge of the digital economy. Vestager has already battled global tech giants, such as Amazon, Apple, and Google in her past five years as EU competition commissioner, earning herself the nickname “tax lady” from US president Donald Trump. The idea of breaking up internet monopolists has emerged in the EU and in the US as a potential way of better regulating the firms. Vestager also told MEPs that if there was no global agreement on digital taxes by the end of 2020, the EU should go ahead on its own. “We need to make sure that digital companies pay their fair share of taxes. We want taxation rules to… Read full this story
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