Brussels to unveil 'EU Inc' pan-European company status

The proposal known as "EU Inc" is part of ramped-up efforts to tackle the European Union's competitiveness problem as the bloc's economy and industries risk falling further behind the United States and China. Trade unions fear, however, the new EU-wide regime will erode workers' rights. EU Inc "has a simple objective: to reduce fragmentation and allow businesses to operate across the single market under one clear set of corporate rules", EU justice commissioner Michael McGrath told AFP in a statement.