“We go back to the roots of our continent’s languages,” said Repasi, explaining Parliament’s choice of a Latin-derived term rather than an American abbreviation.
“I cannot be the only one who struggles to pronounce the proposed name of the new corporate form,” Kim van Sparrentak said in Monday’s debate on the proposal. (The Dutch Greens MEP still voted for the proposal with the Latin-rooted name.)
Covering the basis
Beyond the naming spat, there are more profound ideological splits over the regime to create a single EU window for registering companies, which Commissioner Michael McGrath is expected to unveil in late March. The idea is to create a flourishing startup landscape, and stem a flight of talent and ideas across the Atlantic.
Repasi warned that the regime must not become a vehicle for “charlatans” to escape labor standards, echoing a complaint from Lukas Mandl, of the European People’s Party, that the proposal should not give rise to a “gold digger mentality” that could destabilize the European social partnership model.
“If there is no credible solution how employee participation … can be secured, I see difficulties that the progressive side of the House can support such a 28th regime,” he said, citing the failure of previous attempts like the SPE and SUP due to the same issue.
Another substantive issue may prove to be its legal basis, on which lawmakers haven’t yet agreed. It’s on this issue that the creators of the “EU Inc.” naming proposal — who were delighted to see von der Leyen endorse it — are really hoping to make an impact.