Local view for "http://purl.org/linkedpolitics/eu/plenary/2001-07-04-Speech-3-112"
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"en.20010704.3.3-112"2
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".
It is a good thing that the European Parliament has just consigned the result of the mediation on the thirteenth directive (hostile takeovers) to the wastepaper basket. It means that this rickety proposal for a directive is now no longer on the table and the European Commission can quickly get down to work and work out new proposals.
If the Commission takes account of the feelings of the great majority in Parliament a new proposed directive can be tabled very quickly. Conditions for rapid adoption by Parliament will be that the decision on a hostile bid should rest not with the shareholders but with the Board of Management, that the Board of Management should decide in the light of all interests, i.e. also those of the employees, that the new proposal creates a true “level playing field” in Europe, which means, for example, that government intervention, in the form of “golden shares” or anything else, to combat takeovers, should be banned, and that companies in the EU are allowed to maintain at any rate the same protection constructions as in the US.
Only in this way can a balanced proposal for legislation be tabled that accords with the socio-economic tradition in most European countries and puts a decisive stop to the market fundamentalism that underlies the proposal just rejected."@en1
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