The text explores the many legal and economic challenges emerging from the liberalization process engaged by the European Community with respect to state monopolies. It is divided into three parts. Taking a sectoral approach, the first part is devoted to expert analyses of the liberalization measures adopted by the Community in the areas of telecommunications, postal services, energy and air and rail transport. The objective is to provide a detailed and up-to-date review of the most significant developments that have taken place in these key industry sectors. The second part deals with more conceptual issues, such as the impact of the liberalization process on consumer protection and public service obligations. It also analyzes the main issues emerging from the creation of "strategic alliances" in the telecommunications and aviation sectors. The third part takes a comparative and international law perspective. It examines the extent to which monopolies have been opened to competition in the United States and the lessons which may be drawn from the American experience. It also discusses the liberalization measures negotiated in the framework of the World Trade Organization, with a special reference to the agreement recently concluded in the area of telecommunications. The papers written in the book are by leading experts on state monopolies, and take a pluridisciplinary approach covering not only legal but also economic and political science issues.