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Mario Monti (Int'l Edition)


International -- The Stars of Europe -- Agenda Setters

Mario Monti (int'l edition)

European Union Commissioner -- Italy

With his gray hair and gray suits, Mario Monti looks the epitome of a Brussels bureaucrat. But appearances deceive. The 56-year-old European Competition Commissioner, a former economics professor, is fighting fiercely to rid Europe's single market of cartels, potential monopolies, and subsidized companies.

Since taking office last September, Monti has fined shippers for operating a cartel and blocked Volvo's bid to acquire truckmaker Scania. Now, he is insisting that Germany's state governments stop guaranteeing the debt of the Landesbanken--the state-dominated regional banks. "State aid distorts the market," Monti says. Politicians are already growling over Monti's moves, but the ex-academic is paying no heed. His dedication is bad news for anyone betting on European subsidies.


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