EU ministers fail to agree on European Private Company

At a meeting on 30 May 2011, the EU's Competitiveness Council was unable to reach agreement on legislation establishing the European Private Company - a uniform company form that small and medium-sized firms could use to operate across Europe - which includes provisions on employee participation arrangements.

The European Company Statute, which came into force across the EU in 2004, gives existing companies the option of creating a European Company that can operate on a Europe-wide basis and be governed by EU law directly applicable in all member states, rather than national law.