Local view for "http://purl.org/linkedpolitics/eu/plenary/2007-04-25-Speech-3-446"
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"en.20070425.41.3-446"2
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"Mr President, I shall try to make my statement in one minute; it mainly has to do with the financial markets and what is happening there at the moment in the area of private equity and hedge funds which, via shareholders’ rights, are gaining influence in businesses. It is very disappointing, in my view, that the present Commission has failed to table any proposals on employees’ rights, particularly in those large transnational businesses, while everything possible is being done to improve shareholders' rights. We adopted a report on this very subject in February last. There is clearly an enormous imbalance between what is being done for shareholders in order to gain more influence in businesses – which they can do purely from their financial perspective – while no consideration is being given to the repercussions on employment, on the quality of work or on employees’ rights. As I see it, the balance should be restored in that area at the earliest opportunity, and it may be advisable to revisit the fifth Company Law Directive and to ensure that, when monitoring businesses, a better balance is struck between the interests of shareholders and those of employees."@en1
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