Not Satire But French

A dumb French law is upsetting a dumber European Commission.

France warned over ban on stock market listing for sports clubs
The European Commission has decided to ask France formally to modify its legislation preventing football and other sports clubs from being listed on stock markets. It sees this as an unjustified barrier to the free movement of capital, in breach of the EC Treaty (Article 56).
The Commission’s request is in the form of a reasoned opinion, the second stage of the infringement procedure under Article 226 of the Treaty. If France does not respond satisfactorily within two months, the Commission may decide to refer the case to the Court. Contacts with the French authorities will continue to see if a solution can be found, compatible with Community law.
According to Le Monde, the French minister for sport reacted by saying that discussions would be taking place in the coming weeks to find a solution in line with both EU law and the “specificity of French sport”.

Posted by on December 15th, 2005 at 12:46 pm


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