Local view for "http://purl.org/linkedpolitics/eu/plenary/2003-12-16-Speech-2-105"

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"en.20031216.3.2-105"2
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". For over a decade now, we have been debating the takeover directive, the first version of which, as we know, was unable to get over the last hurdle in this House. I am glad that, thanks to the negotiations involving the Council and our rapporteur Mr Lehne, the adoption of this important text is now, at last, within our reach. The Portuguese-Italian compromise arrived at in the Council and adopted in the Committee on Legal Affairs and the Internal Market and in the Committee on Economic and Monetary Affairs strikes me as the best possible result in a complex situation. Stipulating the Europe-wide applicability of Articles 9 and 11 whilst allowing the Member States the option of not making them binding on their businesses, although not ideal, is the only compromise possible, to which the alternative would be not having a directive at all, and nobody wants that. A small step in the right direction is always better than marking time on the spot for years. I would argue that there are a few highly strategic areas in which the Member States should be accorded special rights, which they would be entitled to use in the event of takeovers. The report before us indirectly covers the possibility of the Member States availing themselves of the right already referred to, and also solves the specifically Scandinavian problem with securities with multiple voting rights without jeopardising the important level playing field, which guarantees enterprises equal opportunities."@en1
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