Local view for "http://purl.org/linkedpolitics/eu/plenary/2003-12-15-Speech-1-079"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2003-12-15"^^xsd:date2
dcterms:Is Part Of	lp_eu:Takeover bids2
dcterms:Language	"sv"^^xsd:language2
lpv:document identification number	"en.20031215.7.1-079"2
lpv:hasSubsequent	lp_eu:2003-12-15-Speech-1-0802
lpv:speaker	lp:Olle Schmidt2
lpv:spokenAs	member; Delegation for relations with Japan (2002-02-07--2004-07-19)3 member; ECON (2002-01-17--2004-07-19)3 substitute; Committee on Women's Rights and Equal Opportunities (2002-01-17--2004-07-19)3 member; ELDR (1999-07-20--2004-07-19)3 member; Delegation to the EU-Slovak Republic Joint Parliamentary Committee (2002-02-07--2004-04-30)3 unknown; Folkpartiet liberalerna (1999-07-20--2004-07-19)3 substitute; Committee on Citizens' Freedoms and Rights, Justice and Home Affairs (2002-01-17--2004-07-19)3
lpv:translated text	"Mr President, Commissioner, if the EU is to become the world’s most dynamic and competitive economy, the EU’s decision-makers must act consistently and quickly. This could have been an important directive for creating better preconditions for growth and for promoting restructuring within Europe’s corporate structure. It is the dynamic companies that can be restructured that create jobs. Without jobs, Europe will not survive. That is genuinely an issue in the employees’ interests. The expression ‘Much ado about nothing’ is quite a good description of this controversial directive. For fourteen years, we have tried to bring about these fair and common ground rules. In fact, we have failed, but it is nonetheless a step in the right direction. I personally have had some difficulty with this debate. In principle, my view is that the differentiated voting right does not favour the emergence of efficient companies able to compete in a global market. Over time, the various voting values tend to consolidate deficient corporate structures. I also think there are important legal objections to retroactive legislation, and I can also see the point of entrepreneurs being able to go to the stock exchange to obtain extra capital for their life’s work without losing complete control of it. In spite of this, it is incredibly important for us to obtain common corporate ground rules with a view to opening the European market to more liberal restructuring. We must, however, be able to live with this compromise. We could have obtained more, and more is what we wanted. Now, this directive is more about openness and the protection of minority shareholders, and less about takeover rules. It is, however, a step in the right direction, and I think we can support this compromise, even if it shows that it takes sixteen years for EU legislation to come into effect. An initial 14 years and then a further two years before it is incorporated. If we continue in this pattern, we shall never become dynamic and competitive."@en1

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