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EU Urges Governments to Shed Selfishness:Posted By: William "Bill" Buckington By ROBERT WIELAARD, Associated Press Writer BRUSSELS, Belgium - European Union governments must shed economic selfishness and expose coveted national enterprises to competition from European rivals, European Commission President Jose Manuel Barroso said Friday.He said they are flouting EU law if they prevent cross-border takeovers or mergers and will force the EU executive — as the guardian of the EU treaty — to take legal action, if and when appropriate. "European law is not some alien imposition forced on unwilling nations. It is the key which has unlocked 50 years of peace and prosperity for the peoples of Europe," Barroso said in a speech at the European University Institute in Florence, Italy. A copy of his speech was made available by his office. Separately, the European Commission is considering starting legal proceedings against France next week over a law curbing foreign participation in 11 French industrial sectors. A meeting of senior Commission officials is scheduled for Monday to debate the issue. In his speech, Barroso named no countries, but appeared to target France and Spain — which have been at pains to keep national energy champions out of foreign hands — and Poland. Warsaw has defied the European Commission by blocking a takeover by Italian bank UniCredit SPA of Bank BPH, Poland's third-largest bank, as part of its broader takeover of German lender HVB Group AG. These steps, said Barroso — whose job it is to ensure EU rules and laws are properly implemented — attack the "fundamental importance" of EU single market laws. "These attacks go beyond the necessary criticism that is normal in a democratic system and vital for its good functioning. They give in to populist temptations, from the left and from the right," he added. France has defended its efforts to keep French energy companies in French hands as "national patriotism." Barroso called EU single market legislation "a substantive part of what the EU is all about" and said it distinguishes the union "from a mere intergovernmental organization." An EU summit meeting last week was preceded by sniping over accusations some nations have pursued nationalist, protectionist policies. Resistance to economic reforms and liberalization has been strongest in France, where a wave of student protest has greeted recent efforts to open up the labor market by making it easier for employers to hire and fire younger workers. EU regulators question France's actions to combine the utility Suez SA and gas giant Gaz de France after Italy's Enel SPA had indicated an interest in Suez. The EU executive has already threatened legal action against Spain for introducing a law that could block the bid by Germany's E.On for Spain's power utility Endesa. And it wants to hear from France on Monday why it encouraged a Gaz de France-Suez SA merger to prevent Enel from biding for Suez. Barroso countered claims that European laws are too numerous, resulting in the EU meddling in national affairs. He said EU laws "sweep away the need for 25 national laws in the same areas. Far from swamping Europe in unwanted laws, legislating at European level is often by definition an exercise in simplification and clarification." Courtesy Of: Yahoo! News The information reported above is property of Yahoo! inc. and reprinted or modified with legitimate permission. We thank Yahoo! inc. for the kind cooperation with us and other shareholders. |
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