Details of Google’s proposed settlement with the European Union to avoid antitrust charges have been leaking out of Brussels over the weekend. And while EU competition authorities appear to have accomplished more that the gentle tap on the wrist meted out by the U.S. Federal Trade Commission, the deal as so far revealed doesn’t do enough to end Google’s anti-competitive practices.

Eleven Internet Companies are pressing European antitrust regulators to take strong action against Google so that the Internet giant’s smaller rivals aren’t hurt. And what happens across the pond in this case could have an impact on possible antitrust action in the United States.

Consumer Watchdog today called on the Federal Trade Commission to release the 100-page staff report on the 19-month Google investigation as the only way to “restore a modicum of public trust in the Commission’s ability to serve as an effective antitrust enforcer.”

The Federal Trade Commission’s settlement with Google fails to end its most anticompetitive practice, Consumer Watchdog said today and the public interest group called on the Department of Justice and state attorneys general to press forward to end the Internet giant’s monopolistic behavior in search results.

“Google clearly skews search results to favor its own products and services while portraying the results as unbiased. That undermines competition and hurts consumers,” said John M. Simpson, director of the group’s Privacy Project. “The FTC rolled over for Google.

Google Chairman Eric Schmidt boasts to Bloomberg about the rapid proliferation of Google’s Android smartphone operating system, comparing it to Microsoft’s domination of the desktop platform in the 90s. and if everyone remembers the 90s correctly, the Department of Justice stepped in and smacked Microsoft around for antitrust violation, without which they would have no doubt strangled Google in its infancy.

Google is out there whispering in the ears of journalists that they are off the hook for search manipulation and that there are three solid votes in opposition to the FTC pursuing the case. Perhaps they know things nobody else does, but if it’s true, it will raise all kinds of questions about the agency’s balk, particularly with regard to commissioner Edith Ramirez.

When you stare down a $220 billion corporation, it’s hard not to blink. But if the Federal Trade Commission doesn’t deliver on its ultimatum to Google that it settle its antitrust problems soon for real relief or face prosecution, then consumers will never get the open and unfettered online and mobile access to information they deserve.

A federal judge’s ruling late Friday in a key privacy case demonstrates the need to implement tough “Do Not Track” rules and to take decisive action on the antitrust front against Google.