European Regulators Make a Power Grab European leaders delete references to the flag in the constitution.
In May the EU adopted the Corporate Sustainability Due Diligence Directive, which converts a range of international conventions into binding law enforceable on American companies.
The new regulation forces U.S. companies to adhere to the EU’s “net zero” carbon emissions target and to comply with onerous labor-related standards—even when they exceed the requirements of U.S. law.
In addition to imposing severe financial penalties for violations, the rule establishes a private right of action that gives activists an incentive to bombard companies with frivolous lawsuits.
Though the regulation directly targets U.S. companies with European market revenue exceeding €450 million (about $500 million), it indirectly harms small and medium-size businesses too.
It requires big companies to police their subsidiaries and supply chains for compliance with environmental, social and governance standards, even if these smaller firms otherwise wouldn’t be covered by the rule.
Wall Street Journal 15 October 2024
If you want to understand what is happening to the European Union’s constitution, the EU flag is a good place to start.
European leaders will agree to delete references to the flag in the constitution.
Everybody knows the flags will keep flying.
https://englundmacro.blogspot.com/2024/05/eu-slams-eurovision-for-banning-its.html
Tillbaka till Wall Street och Stockholm 16 oktober 2024
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