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Michel Barnier, the European Commissioner for the internal market, seems determined to end his period in office with a blizzard of activity ahead of this month’s European Par- liament elections. The (much watered down) draft directive for IORP II and a paper on long-term financing of the European economy were closely followed by a draft directive revising shareholder rights legislation, complete with a controversial proposal for a mandatory say-on-pay vote at EU listed companies.
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