SOME thirty years after the idea was first proposed, the creation of a European Company has become a reality. This new corporate entity will be authorised to operate throughout the 15 European Union countries under a single set of management, reporting and legal rules which will be binding throughout the EU.

The European Union Council of Ministers, in Brussels, has now given the initiative its formal approval, along with a sister directive providing for comprehensive worker consultation rights in the new organisations, and both will ...

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