> but as a citizen I do not want a company to opt out of national legal protections and obligations by operating under some fantasy government.

There is no opt-out, if the proposal is accepted the country members would define a new legal form. You would still have national oversight, legal obligation and protection. But you would get access to a new company form that is recognized in and common to all member countries.

But yes, if you do not want more unification then it's likely not something you want to see. I personally believe that we are currently handicapping ourselves with the current, unfinished single market. I want to see an actual EU federation, where we develop a share vision, take risks together, and simplify the flow of capital and people between country members.

The other concept I'm following with interest is uniting European stock exchanges