Brussels, 03/07/2014 (Agence Europe) - The Italian Presidency of the Council of the EU intends to move forward on work on relaunching long-term investment on the basis of the package of measures presented by the European Commission last March (see EUROPE 11100).
Company law. Italy intends to call on member states to more closely examine the directive on shareholder participation. This legislative proposal includes a provision for a consultative vote by shareholders on company pay policy (the “say on pay” principle). It is possible agreement will be reached at the Competitiveness Council in the second part of the year. Discussion will continue on the draft directive, as well for a directive for a single status for companies with liability limited to a single associate and on the European Foundation Statute. The Italian Presidency, however, is not expected to broach the question of revising the directive on pension funds, which is also part of this package for boosting long-term investment in Europe.
Intellectual property and copyright. The Presidency will also push forward negotiations at the Council on draft legislation on business secrecy, a dialogue between national delegations has already begun. Nonetheless, the European Parliament has not yet begun its work on the subject and trialogue negotiations are therefore unlikely over the next semester, even if the Council agrees a position under the Italian Presidency. Work will also continue on reforming the Community trademarks system. The Italian presidency is also planning to open discussions on the guidelines to be provided for the modernisation of copyright in the digital era, on the basis of the White Paper being prepared by the Commission (see other article).
With regard to the single market, the Italian Presidency also intends to begin a debate on “a new approach” to the single market as part of the mid-term review of the EUROPE 2020 strategy. Italy will also invite member states to highlight a policy domain or sector of activity where action could be taken to strengthen the single market. These could include non-legislative measures, peer pressure or legal amendments. The Italian Presidency also wants to prioritise policies that have a positive impact on SMEs. (MD)