| Germans defend Volkswagen ownership 'law' |
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| Written by Staff Reporter | |
| Wednesday, 23 April 2008 | |
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The German Government remains steadfast in its defense of a law to protect the Volkswagen car company from takeover. This is despite criticisms earlier this week from Charlie McCreevy, the European Union's internal market commissioner. Mr. McCreevy has written to the German Government saying that proposed changes to the so-called 'VW law' were insufficient. The European Court of Justice ruled in October last year that the "Volkswagen ownership law" restricted the free movement of capital and so breached EU rules. The response from Germany's Justice Minister Brigitte Zypries is that the proposed law that would retain a 20% blocking minority does "not impede the free movement of capital". |
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