The Netherlands is refusing to agree to finalise the structure of European limited liability companies, saying the current plans will worsen worker participation, the Financieele Dagblad reports on Monday.
‘A European Ltd structure cannot become a way of reducing worker rights,’ economic affairs minister Maxime Verhagen is quoted as saying at a meeting of EU ministers in Brussels.
The development of a European Ltd – known as a Societas Europeae (SE) – has taken over 10 years so far.
Dutch companies with more than 30 workers have to set up a works council by law. Works councils also have input in major decision making.
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