Local view for "http://purl.org/linkedpolitics/eu/plenary/2000-09-04-Speech-1-120"
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"en.20000904.8.1-120"2
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"Mr President, as somebody keen on helping countries to create jobs and transfer technology, I have to say that the ECIP programme is extremely good and, in principle, that was the objective. But as my colleague and friend, Mrs Theato, has mentioned, it is full of worms. It is almost as if the project was a wonderful, beautifully-wrapped box of chocolates, but inside was absolutely packed with worms.
The reason for that is simple. If you look at Facility 1, it grants up to EUR 100 000 for simply identifying a potential joint venture. So, clearly, when you look at Facilities 2, 3, 4 and 1b, you soon realise that the work was not done by somebody who was a banker, but by somebody who perhaps was a bureaucrat and knew nothing about finance and lending to projects which could be viable. In short, I would say if such an instrument is ever to be invented and devised, it should be done with bankers and industrialists, people who know what they are talking about, not bureaucrats sitting in the European Commission. Therefore, the sooner this project is wound up and the European Union saves money that is being wasted, the better.
I feel very strongly that such investment projects should be very carefully thought out with input from industry and bankers so that maximum jobs are created where they are needed and where there is wide coverage and public accountability and transparency. When I was a member of the Budgetary Control Committee and met the people who were managing this project, I was not at all impressed with the knowledge that they had of running such an enterprise, and I come from an industrial and financial background."@en1
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