Local view for "http://purl.org/linkedpolitics/eu/plenary/2000-12-13-Speech-3-115"
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"en.20001213.4.3-115"2
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"Mr President, the Labour delegation of the European Parliament voted against Mr Lehne's amendments to the common position. As I said in the debate last night, they would be very damaging for EU company competitiveness. They introduce rigid structures and try to bring company law in by the back door, which will not achieve a single market in capital and will undermine investor confidence of our shareholders.
Following ten years of negotiation, I regret that this Parliament has chosen by a narrow qualified majority vote to allow company boards the right to defensive measures to frustrate takeovers without getting approval from shareholders. However, I welcome the fact that the Commission cannot go along with the rapporteur's views on this and I hope that common sense will prevail in conciliation.
I am pleased that we rejected the rapporteur's very messy approach on jurisdiction: this would have led to very much litigation and court cases and would have served nobody's interests, not least the interests of EU companies.
With the passage of Amendment No 20, the EPLP has made it clear that while employee consultation is the objective of a framework directive on employment, we also believe that a spirit of cooperation is needed to consult workforces and their representatives when we have discussions on takeovers and mergers."@en1
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