Local view for "http://purl.org/linkedpolitics/eu/plenary/2009-03-11-Speech-3-039"
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"en.20090311.3.3-039"2
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"Thank you, Mr President. In the current crisis situation, it is better to do more, rather than to wait. Therefore, the proposed economic stimulus instruments should certainly receive our support. For the new Member States in eastern Europe, however, with few exceptions, the international lending markets have closed their doors, there is an outflow of capital, and western European banks, which account for the majority of the market in the region, have changed the expansive lending policies they were pursuing not long ago for a more cautious approach. The opportunities for these Member States to use financial and fiscal instruments are limited, or completely non-existent. In addition, in the majority of those countries preparing to join the eurozone, the convergence criteria will, in the medium term, also limit what economic stimulus measures can be taken. The only real instrument for stimulating the economy and for the implementation of the Lisbon strategy in those countries is finance from the European Union’s funds. In obtaining funds, however, finding co-financing may be a problem, and that may lengthen the time taken to obtain funds. In order to stimulate the economy in eastern Europe we need urgent agreement on changes to the rules for obtaining European Union funds. The procedures for receiving funds need to be significantly simplified, the volume of state and private sector co-financing needs to be reduced and the deadlines for obtaining resources need to be extended. We need to find real opportunities to use financing from the European Investment Bank and the European Bank for Reconstruction and Development for the acquisition of funds. These decisions will send an important signal for the recovery and stabilisation of the market in eastern Europe. Thank you."@en1
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