Codetermination and the market for corporate control in the European Community

Abstract

In the process of European integration the member states have agreed to transfer substantial jurisdiction in the areas of economic and monetary policy to the European Community. In industrial relations, however, they have refused to make similar concessions. Despite its numerous attempts the Commission of the EC has not as yet been able to secure the political consensus necessary for a European model of employees' participation and codetermination. In the context of the Single European Market the national systems of codetermination are destined to play a decreasing role. With the continuing development of the single market and its interlocking business structures across national borders, regulations on codetermination that extend only up to such borders and no further can be expected to lose in significane. This paper traces the history of codetermination in the European Community. It also analyses the reasons why the various directives and regulations drafted by the EC Commission since 1967 have been rej...