Martin Vander Weyer Martin Vander Weyer

The death of the golden share

‘A triumph for the European Commission’ (as USA Today chose to describe it) is not something usually to be celebrated here. But yesterday’s finding by the European Court of Justice against Germany’s ‘VW law’ – protecting Volkswagen against takeover via a blocking minority vote held by the state – really does look like a blow for greater dynamism, industrial synergy, and efficient use of capital throughout Europe.

Already a subscriber? Log in

Election special offer

The stage is set. Grab a front-row seat with The Spectator. Subscribe and get 3 months for just £3 – plus a free election mug.

  • Weekly delivery of the magazine
  • Unlimited access to our website and app
  • Spectator newsletters and podcasts
  • Our online archive, going back to 1828

Comments

Want to join the debate?

Only subscribers can comment. Sign up and – in the run-up to the election – you’ll get the next three months for just £3.

Already a subscriber? Log in