Controversial assessment. A significant victory for Europe? Or more of a failure? Judgements on the agreement reached last week by the Council on the directive on take-over bids wavers between the two extremes. This tells us whether the assessment is a controversial one. The positive judgement belongs to the Italian Presidency of the Council, which is pleased to have closed a dossier that was under discussion for fifteen years. The negative judgement was that of European Commissioner Frits...