Mr Bolkestein, the European Parliament and institutional balance. Frits Bolkestein's initiative to create a "high level expert group" to relaunch European regulations on "takeover bids", and then on company law in general, deserves to be underlined. The way in which the draft directive on takeover bids failed in July was harrowing. The text had been prepared, revised, negotiated and renegotiated during twelve years, and on the very last day it was rejected by the European Parliament by equal...