Saturday, September 30, 2006

EU Court Wants Barriers To Corporate Takeovers To End

From the IHT comes this article:

PARIS-Europe's highest court gave fresh ammunition Thursday to European Union regulators to clear away barriers to cross border mergers, amid a wave of protectionist sentiment in countries like Germany, France, and Italy.

The European Commission immediately issued a new warning to EU capitals to give up the veto rights some of them hold in strategic companies, meant to shield them from unwanted -usually foreign - suitors.

The overall sentiment in Europe has been for globalization, for some time now. In addition to this philosophy, many in Europe have been singing the praises for European unity, through this perceived panacea known as the EU. That is until, someone from another country wants to buy into their country's companies.

But globalists and Europhiles cannot have it both ways. While it is sounds good on paper to promote this new found continental unity and cooperation, it also reeks of hypocrisy to obstruct foreign investment.

Talking the talk is one thing, walking the walk is another. Setting an example is certainly MORE important than dictating the policies.


BabyHair said...

I oppose the European Court's decision to remove barriers to foreign investment. Foreigners shouldn't be allowed to own companies. I want the citizens of that nation to call the shots not someone else. The elites of these companies want globalization and foreign ownership of companies not the ordinary workers and citizens. It's horrible that so many foreigners own American companies and we just allow it to occur. If I had the power; it wouldn't be happening. I don't blame protectionist sentiments to be surfacing in Europe. Italy is for Italians; Germany is for Germans; France is for the French, etc. I support nationalism not globalism.

LASunsett said...

Since I am not European, I am a bit ambivalent on the matter. The point I was wanting to make was, if Europeans are so gung ho on globalization and yet oppose foreign investment, it rings a bit hypocritical.

I have no problem with each country keeping their companies from becoming foreign owned. But don't shove globalization down the rest of the world's throats, when that is the case.

BabyHair said...

I agree. You can't have it both ways. Most people from anywhere around the globe want the best of government and business services but don't want to pay for them. I believe that it's just human nature. The governmental and corporate elites promise the supposedly wonderful benefits of globalization in an abstract fashion but when they play with it concretely; they realize that it doesn't always benefit them. Countries and companies really don't want unlimited, unfettered competition. Having the free market decide everything will hurt some countries and businesses while others win. It's a crapshoot everytime.

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