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The past two weeks in Germany have shown how quickly political winds can turn. On 29 April, Germany’s top constitutional court in Karlsruhe ruled that the country’s climate protection law infringed upon the rights of the nation’s youth. The law, which aimed to cut emissions by 55% by 2030 and reach climate neutrality by 2050, was considered too vague by the judges, who gave legislators until the end of 2022 to fix it. The case – previously only of interest to legal scholars and climate activists until the ruling was announced – created a political whirlwind. On 5 May, the federal government followed up. Taking observers by surprise, senior cabinet members announced plans to aim for climate neutrality by 2045 instead of 2050 and cut emissions by 65% before the end of this decade. ....
ANTITRUST AND COMPETITION The Commission’s New Guidance Creates Legal Uncertainty for Merger Control in the EU On 26 March 2021, the Commission published a new Guidance on the application of the EU upward case referral system set out in Article 22 of the EUMR. Under the Guidance, EU Member States can now ask the Commission to review certain transactions that do not meet the national or EU merger filing thresholds. This major policy shift will put significant additional burden on dealmakers and increase legal uncertainty for businesses. The Guidance seeks to address a perceived enforcement gap regarding whether the Commission may be missing the review of certain acquisitions of nascent and/or innovative companies, which do not generate significant turnover but with strong competitive potential (so-called killer acquisitions). Such transactions are unlikely to meet the EU merger filing thresholds and may also escape merger control review at EU Member State level, as na ....