Internal Market Commissioner Mario Monti has been trying to revive
the interest of industry and the Member States in the European
Company Statute. The ECS would create a legal structure for a
European company which would be of particular benefit for companies
active in more than one Member State. Commissioner Monti believes
that it would reduce bureaucracy and be the logical choice for
companies wishing to take full advantage of the single market.
But not all companies are keen. Some fear that the
provisions on worker participation could be extended. In response,
Commissioner Monti points out that the ECS will be another option
and not a replacement for existing national systems of company law
and that it is for employers and employees to agree on the level of
worker participation in each European Company. Only if they cannot
agree will the ECS provisions apply. It is expected that most
European companies would not have to apply the ECS provisions
because they would negotiate something that suits them better.
Finally, Commissioner Monti considers that worker
participation in the ECS would not open the floodgates, with such
participation becoming standard practice. He believes that there is
no political appetite for this.