Governance overhaul in the EU

Brussels – The European Union must use the second phase of the EU Company Law and Corporate Governance Action Plan (AP) to make companies in Europe more competitive and far better regulated, urged Charlie McCreevy, European commissioner for Internal Market and Services, at a conference on European corporate governance in London in mid-November.

"Despite having an internal market of over e450 million, we still make it difficult for companies to exploit this. We need more entrepreneurs and we need to make it easier to set up and to wind up businesses. Let's face the facts. How easy is it to do business in the EU? Comparatively, not very," said McCreevy.

McCreevy referred to World Bank figures, where only two member states figure in the