The European Commission's lofty ambitions are being checked
Published:
30 November 2003 y., Sunday
European Union ministers have approved new corporate takeover rules which triggered sharp divisions in Brussels.
The legislation is a compromise between member states and overrules more radical proposals earlier set out by the European Commission.
The vote marks a second triumph of ministers over commissioners in a week.
The commission is still reeling from the failure of ministers to sanction France and Germany for breaking the rules of euro membership.
The 20-member Commission, which has representatives from each state - and two from the five largest EU countries - is supposed to act as a pan-European executive, but is now facing a crisis of confidence as it competes for power with the councils of ministers from member states.
Earlier this week EU finance ministers defied the Commission and voted not to exercise their power to impose fines on France and Germany for exceeding budget deficit rules laid down in the stability pact for the European single currency.
Šaltinis:
BBC News
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
In January 2009, the EBRD commissioned two Italian consultants to study Turkey's sustainable energy market in preparation for future investments.
more »
Next week a delegation of more than 50 Chinese businessmen, accompanying the Chinese Vice-Premier Hui Liangyu, are arriving to Lithuania.
more »
The German developer “ECE” together with Lithuanian partners opened a new shopping and entertainment centre Ozas Gallery in Vilnius.
more »
As it embarked on an ambitious stimulus spending, Thailand turned to the World Bank for advice on how to fast track the spending coupled with proper management controls to keep programs on the rails.
more »
Peter Reiniger Business Group Director for Central Europe and the Western Balkans from the European Bank for Reconstruction and Development visited Latvia to sign subordinated loan agreement with Parex banka.
more »
On Monday AB DnB NORD Bankas started placement of a 13-month fixed-rate Lithuanian government bonds. It is the first time when Lithuanian sovereign USD denominated securities will be available on Lithuania’s retail market.
more »
The Swedish business daily Dagens Industry published an interview with Andrius Kubilius, the Prime Minister of Lithuania, to Bloomberg News.
more »
The economic crisis still has a firm grip on large parts of the world. But Sweden’s Minister for Trade Ewa Björling can see bright spots.
more »
The European Bank for Reconstruction and Development and KfW Entwicklungsbank (The German development bank) are providing a financing programme worth up to €28.9 million to MegaBank - one of the strongest regional banks in the eastern Ukraine.
more »
A settlement in an international tax dispute that strained U.S. ties with Switzerland.
more »