The Economic and Monetary Affairs Committee voted on the Takeover Directive adopting some 33 compromise amendment instead of the original placed 265 amendments. These amendments were reported to be made up in close contact to the Concil.
Commissioner Bolkestein stated in his briefing to the Committee that the amended Directive “is not worth the paper it is written on”. The essential provisions of article 9 and 11, which should create a level playing field, are now optional.
Compromise amendments
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