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The European company finally has a statute

Companies present in several countries in Europe will be able to opt for a single status, that of the European company

(Archives B2) 30 years! this is the time it took for the Europeans to agree on the status of a “European company”. The idea goes back to 1970, when the " European Economic Community had six countries. In the logic of a common market, it seemed obvious to the eyes that companies should have a single status allowing them to cross borders more easily. Very quickly, however, the discussions are blocked on a related question: what place should be given to employees? The years pass, the proposals follow one another, Europe expands and any solution is refused. Finally, it is Spain, for confused reasons, which opposes fierce opposition. It was in fact, at the Nice summit, that Spanish Prime Minister José-Maria Aznar gave in.

The statute of the European company (SE) has not yet been formally adopted, it will be by 2001, but its interest is already known. Not just any company will be able to adopt this status. The SE is reserved for companies established in different European countries which merge, create a subsidiary or a common holding company. A French SA can also choose this status if it is present in at least one other country of the European Union. The advantage is clear. A company will no longer be required to register in all the countries where it is present. Similarly, it will not need to complete the various annual formalities (publication of balance sheets at the commercial court, etc.). The economy is therefore not minimal, more than 200 billion francs per year for simple procedural costs according to specialists.

Concretely, the SE must have a minimum capital of 100 euros (000 francs). Its seat will be fixed in the city where its central administration is located, that is to say at its real seat. On the organizational side, the SE may choose to adopt the Rhine system with an executive board and supervisory board or the Latin model with a board of directors. As for employees, their role in society (consultation in the event of redundancy, association with the management of the company, etc.) will be freely negotiated between unions and company management. It is only if this negotiated solution fails that the provisions of the European directive will then apply. However, each country remains free - concession to Spain - to transpose or not the rules on worker participation (particularly co-determination). At the risk of seeing companies, German for example, give up setting up there...

Nicolas Gros-Verheyde (published in France-Soir, December 2000)

Nicolas Gros Verheyde

Chief editor of the B2 site. Graduated in European law from the University of Paris I Pantheon Sorbonne and listener to the 65th session of the IHEDN (Institut des Hautes Etudes de la Défense Nationale. Journalist since 1989, founded B2 - Bruxelles2 in 2008. EU/NATO correspondent in Brussels for Sud-Ouest (previously West-France and France-Soir).

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