In May 2003, the European Commission adopted an action plan: « Modernising Company Law and Enhancing Corporate Governance in the European Union - A Plan to Move Forward » . The plan is aimed to reinforce shareholders¿ and creditors¿ rights and enhance the competitiveness of the companies. These works undoubtedly were inspired by the peculiar context resulting from the Sarbanes-Oxley Act in the US. The works of the Internal Market GD are developped in total disregard to the social concerns of the European Union, which is strongly regrettable. Despite of all the announcements, such a proposal reasonably cannot have the ambition to create an alternative corporate governance model for European companies.
DE BEAUFORT, V. (2007). De la démocratie actionnariale pratiquée par la Commission européenne, les limites de l'exercice. Confrontations Europe.