Gearing up for Regulation 2.0
Georg Serentschy develops the regulatory picture in Europe and argues for a much more ambitious agenda for investment.
There is much agreement among industry experts that the current regulatory framework in Europe shows clear signs of obsolescence and should be – without further delay – fundamentally overhauled. All sides call for a more cohesive approach and the formation of a coherent industrial policy for the telecoms sector so that it is better able to compete against its global rivals in terms of investment ability, innovation adoption, network capability and attractive unit pricing.
Along the future regulatory trajectory in Europe, there are a series of challenging issues and required steps for regulatory modernisation to be dealt with. When defining the trajectory of regulatory modernisation, Europe should avoid going for incremental improvement only and rather aim at an ambitious scenario and step up to a ‘virtuous circle’, based on innovation, investment and smart regulation (‘Regulation 2.0).
This is the key point I argue in this article, which is based on an earlier version published on my website. I also take into account relevant parts of the most recent net neutrality debate in the US and EU and an article (Adapt or die) about Europe by Richard Feasey.
The European telecoms sector is faced with significant challenges in terms of rapidly emerging new technologies and new forms of competition and business models driven by these technology changes. This year will be pivotal for European policymakers, regulators and competition watchdogs to improve the environment for the European telecoms sector.
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