April 11, 2006	Tuesday	Rabi-ul-Awwal 12, 1427

LONDON, April 10: EU Monetary Affairs Commissioner Joaquin Almunia said on Monday said he was concerned about the growth of protectionism in Europe. “I am concerned about the protectionist threats. During the last times we have found some protectionist reactions against takeovers, against some European decisions.... We think in Brussels in the (EU) Commission that this is the worst way to tackle the challenges that we have,” Almunia said in a speech here.

There have been several cases recently where European governments have opposed foreign bids to buy their countries’ companies, notably in Spain, France and Luxembourg.

Several ministers at a meeting of European finance ministers in Vienna at the weekend denounced protectionism, arguing that freer trade and more open markets were good for both jobs and profits.

—Reuters