Building Up Europe

Building Up Europe


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“May you live in interesting days,” is an old Chinese wish and I have to confess that here in Brussels we have plenty of interesting days…

To start with, last week’s presentation of the Directive for the Stock Markets. It is of utmost importance and credit should be attributed to Commission President Prof. Romano Prodi. The newly introduced Directive has two basic characteristics. It makes business financing cheaper, more flexible and highly efficient while it aims at the liberalisation, development and growth of financial markets, and at the same time it sets rules for a strict protection of small retail investors who constitute the backbone of the European economy. The presentation of the new Directive, unveiled the monumental failure of the various Brussels consultants who once again failed to perceive where the real power in Brussels lies. To get a concrete idea of what a great success this Directive has been, just have a look at the Anglo-Saxon printed media. (712)

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