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November 28, 2010

The Guardian reported earlier today that the Irish government’s statement outlining the IMF/EU bailout includes measures to increase competition in Ireland in certain sectors, as part of wide-ranging fiscal policy and structural reform.

Measures to increase competition include: (i) removing restrictions to competition in some sheltered sectors (including the legal profession, with the establishment of an independent regulator and implementation of recommendations of the Legal Costs Working Group), (ii) eliminating restrictions on the number of qualifying general practitioners in the medical profession (and the removal of other restrictions, including restrictions on advertising), (iii) ensuring that a recent elimination of mark-ups for medicines under Ireland’s Drugs Payments Scheme is enforced, (iv) giving Irish judges the power to impose fines and other sanctions in competition cases to generate more credible deterrence and (v) requiring Irish competition authorities to list restrictions in competition law that currently excludes certain sectors from its scope (and address processes to address them).

For the full statement by the Irish government see: Ireland Bailout: Full Irish Government Statement.

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