Brussels, 20/12/2000 (Agence Europe) - In accordance with the conclusions of the Nice Summit and as expected (see yesterday's EUROPE p.6), the special Employment and Social Policies Council, gathered this Wednesday, under the Presidency of Elisabeth Guigou, finalised the unanimous political agreement both n the regulation relating to the European Company Statute (ECS) and on the Directive concerning the involvement of workers. The European Parliament will now be consulted on the final version of the two texts, which could be formally approved at the start of 2001 to enter into force three years later, in 2004. This statute will give companies that operate in several Member States the possibility of forming themselves as a company under Community law and to evolve as a single operator in the whole of the EU, by applying a single set of rules and a single system for the management of the company and the publication of financial information, thus avoiding having to conform wit the legislation of each Member States where it has a subsidiary.
"Social Europe has considerably progressed following the efforts of the Luxembourg, Portuguese and French Presidencies. In now finds itself at the top of the European agenda, with a roadmap and a scoreboard that the Commission will monitor. We are on the right track for social to gain the same statute as economic", announced Elisabeth Guigou during the final press conference. Mrs Guigou recalled that the plan of a "European public limited company had been "broached for the first time 41 years ago" (in 1959 in Rotterdam by the Dutch Professor Sanders) and the first presentation by the Commission dates back to 1970. "thus the negotiations lasted 30 years, to reach a success notably under the impetus of the Davignon Group, the successive Council Presidencies and finally the Nice European Council". the President underlined that the companies already with a European dimension will be able to form a company under Community law while maintaining the workers rights.
As for Commissioner Diamantopoulou, she underlined that the decision, on Wednesday, "is simple a great success" which corresponds to the present needs of the EU and the Internal Market". the ECS is one of the ten priorities designated by the Commission as being crucial in the creation of a fully integrated market for financial services. Referring to a study from 1995 by a group chaired by Ciampi, Anna Diamantopoulou indicated that "for companies that operate at the Internal market level, the ECS offers the hope of a reduction in the administrative costs that could total up to EUR 30 billion per year", figure that "shows the scope of the positive consequences".
The Council also had an informal exchange of views over the draft Directive "information-consultation of workers in national companies", and Mrs Guigou took a very firm position (and critical towards the United Kingdom). EUROPE will return to this tomorrow.