Trustbuster With Teeth

Giuseppe Tesauro has smacked some of Italy's biggest firms and associations with impressive fines in the name of competition

Competition has been a dirty word for decades in Italy, particularly for entrenched state monopolies like Alitalia and the electric company ENEL. But the private sector hasn't liked the word much either. If the country's suddenly energized Antitrust Authority has its way, however, businesses may have to get used to it. Last July Italy's insurance firms got a rude awakening when the Authority slapped them with $350 million in fines after determining they had fixed prices for many forms of vehicle insurance.

The Authority, established in 1991, has gone on a tear over the past couple of years, thanks to a...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!