Local view for "http://purl.org/linkedpolitics/eu/plenary/2000-12-12-Speech-2-305"
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"en.20001212.14.2-305"2
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"Mr President, after 18 years working in financial services, I do not believe this directive is needed. In the UK the regulation of takeovers through the voluntary code of practice administered by the takeover panel has been highly successful: a good example here of a pragmatic approach to a highly complex issue where legislation will be less appropriate. It should not escape our attention that the takeover market is primarily British. Activity in London exceeds the whole of the combined volume in the rest of Europe, therefore this measure will damage the United Kingdom. Many believe that the imposition of a legal code is simply a protectionist device to enable less efficient European companies to protect themselves from takeovers by resorting to complex legal actions.
Are European companies so afraid of competition that they feel the need to shelter behind a restrictive law which will stifle rather than improve European competitiveness? If not, then Members should vote against this directive."@en1
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