The European Commission has launched an investigation into whether the Greek government violated EU fair competition rules by helping Olympic Airways, the country's struggling flag-carrier.

BBC: EU probes aid to Olympic Airways

In some cases, the European Commission has itself hampered the development of the single market by granting certain industries exemptions from the normal rules of fair competition.

ECONOMIST: Actions speak louder than words | The

Together, we discovered that a free market only thrives when there are rules to ensure competition and fair play.

FORBES: Obama Says So Long To The Reagan Era

This time when he tells banks and insurance companies that "a free market only thrives when there are rules to ensure competition and fair play, " they will do well to believe him.

CNN: Obama finally meets Machiavelli

But Roosevelt also knew that the free market has never been a free license to take whatever you can from whomever you can. (Applause.) He understood the free market only works when there are rules of the road that ensure competition is fair and open and honest.

WHITEHOUSE: President Obama Speaks on the Economy

And on balance, these rules have been good for business, not bad, for they ensure honest competition and fair dealing and a level playing field.

WHITEHOUSE: President Obama Addresses Business Roundtable