Nice : the rise of European limited companies

At Nice European Council, at least one measure was taken which was necessary since nearly 30 years and on which Southern and Northern countries were divided : the creation of a common statute for European limited companies. This matter particularly concerns large groups that merge in Europe. This matter, which solution wasn't found yet, dealt with the functioning and social rules' unification for employees within the same company throughout Europe. Northern countries, where the employee's participation is strong, wanted these rights to be protected in case of a merge whereas the Southern countries refused to be imposed the conditions of a British system.

Through lack of a common rule, many groups had chosen the Dutch statute, at the same time fiscally attractive and not very restricting as far as companies' rights and stock market information are concerned. The measure taken in Nice allows a lot of freedom to member-States that can 'transpose in their national laws the measures connected to participation applicable to European companies created by a merge'. Countries where the employees' involvement within the company is significant, can retain social progression even in the case of a trans-European merge (see in the daily newspaper La Tribunethe two articles dealing with this decision's measure /www.latribune.fr/Tribune/Online.nsf/Articles/20001211164788?OpenDocument"> Le statut de société européenne est enfin sorti de ses limbesand /www.latribune.fr/Dossiers/EuropeSa.nsf?OpenDataBase"> Europe SA : le grand chambardement).