We believe that, as far as possible, the procedure for developing a European Cooperative Society must be characterised by scrutiny and transparency.

Five years ago the Commission presented proposals for a European cooperative society, a European mutual society and a European association, in other words not only for the European joint-stock company.

It is important to have recalled the existence of common European institutions such as the 'European company' and the 'European cooperative society', as well as EU procedures concerning Community-scale groups of undertakings.

I share the concern that creating the Statute for the European Cooperative Society should respect employees' acquired rights and the protection of these rights, both when an SCE is set up and in the structural changes of an already-existing SCE.

For that reason, the right to information, consultation and worker participation, without restrictions, must take the same form as in the existing rules on the European company (Societas Europae - SE) and the European cooperative society (Societas Cooperativa Europaea - SCE).

Mr President, many Members have already spoken about the Council's failure to take the opportunity to observe and recognise the European Parliament's prerogatives laid down by the Treaty and to propose a legal base providing for Parliamentary codecision in respect of the regulation on the Statute for a European Cooperative Society.