The implementation of a European Code of Business law (www.codeeuropeendesaffaires.eu) is one of the key recommendations of the report “Much more than a market” authored by Enrico Letta, President of the Jacques Delors Institute and former Italian Prime Minister, to strengthen the European single market.
It is a promising development that the newly re-elected President of the European Commission, Ms. Ursula von der Leyen, has included Mr. Letta‘s report suggestions in her roadmap, in the section called “Facilitating business activity”. She has further expanded on these suggestions by introducing the concept of codification:
“On this basis, we will make proposals to simplify, consolidate and codify legislation to eliminate any overlaps and contradictions while maintaining high standards. We will also address the patchwork of national regulations that makes doing business in different EU countries more complicated. We will make it easier for innovators to succeed by reducing the cost of failure. To support this, I will propose a new EU-wide legal status to help innovative companies grow. This will take the form of a so-called “28th regime” to allow companies to benefit from a simpler, harmonized set of rules in certain areas”.
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