Word: bolkestein
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Dates: during 2002-2002
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Incompatible with laws in Germany, the Netherlands and elsewhere mandating employee representation on boards The issue risks becoming a new flashpoint in trade relations between the U.S. and the European Union, already strained by disputes over steel tariffs and tax breaks for American exporters. E.U. Commissioner Frits Bolkestein complained in a letter to sec chairman Harvey L. Pitt on Aug. 29 that "the implementation of some of the provisions of the Act might have undesirable extraterritorial consequences or they might create unnecessary difficulties for European companies." Among his concerns: a new U.S. body that will oversee auditing firms will regulate...
...deregulation process is bogged down in the constant struggle to balance social protection with efficiency, plus many countries' desire to retain their national champions. "Most of the key reforms are still on paper, waiting to be approved and implemented," says Dutch E.U. internal market and taxation Commissioner Frits Bolkestein. "We can't keep on saying, 'The check is in the mail...
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