No Fines for MasterCard Yet
When the bulwark of Europe, the European Union speaks, people stop dead in their tracks and listen with apprehension. Large businesses know enough to not antagonize the largest trans-national formation in continental Europe.
This is where the power of the trans-national formation comes into play. Belligerent players in the world market, such as MasterCard can be threatened with the full force of the EU if it didn’t smarten up. This is already a while back, but it shows just how powerful the EU can be when led to the right direction.
Transaction fees that were considered nonsensical were ordered to be dropped. MasterCard obliged, quietly. What a success! Now if only Obama could do the same for the US. What do you think?