Ein Reich, Ein Volk, Ein EU

The EU have launched a programme of small business reforms to try and make the EU less big business centric. You can read about all of these proposals in the business pages but one in particular struck me (quotation from The Daily Telegraph):

"the creation of a European Private Company legal status to enable businesses trading across Europe to do so without having to incorporate subsidiaries locally"

A forerunner to a European wide corporate legal system?