Local view for "http://purl.org/linkedpolitics/eu/plenary/2009-03-24-Speech-2-373"
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"en.20090324.30.2-373"2
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"Mr President, let me thank the Commissioner and both Presidents for their contributions and all the Members of the House who contributed.
Let me make three brief points in response. The comments made by President Maystadt that the EIB’s additional financial support will allow quick disbursements and contribute to the real economy, notably by protecting good projects and helping viable companies in these difficult times, are very encouraging. It is my opinion that we need to support struggling companies as much as possible to provide them with the credit they need to keep their businesses afloat and to ensure that jobs are not lost.
The report calls, however, for vigilance with regard to the use made of EIB loans by commercial banks, and for a code of conduct between the commercial banks and the EIB in this respect. I hope Members would note that from some of the comments that were made.
Secondly, the current mood in Europe is one of apprehension: housing prices continue to tumble in some countries and people are hoarding their savings. To combat the effect of this crunch, we must begin to talk about the recovery. We took our eye off the ball when it came to the crisis we are in. We are taking our eye off the ball again. Recovery is coming: it may be at the end of this year or it may be next year, but it will come. We need to start talking about recovery and preparing for recovery and, in particular, being competitive enough to take advantage of recovery. I urge that on the three institutions represented here today and on the House.
Lastly, there is a need for the EIB and the EBRD to work together with other international and regional financial institutions – such as the World Bank, the Asian Development Bank and the African Development Bank – in order to promote development in areas further afield from Europe. These banks have a positive impact in delivering aid to developing countries, but I believe that this impact needs to be properly assessed.
The financing of land ownership in developing countries needs to be looked at as an investment cost under the EIB external lending mandate. I have raised this issue on a number of occasions. The country I come from experienced famine. We experienced all sorts of things that people in African countries are now experiencing. What changed the north-eastern part of our island was that people invested in universally small pieces of land.
Look at this model for the developing world. We need them as our future trading partners and I urge both banks to consider what I have said here, because I think that is a way to help the developing world. This is an issue raised here today only minutes ago by the Prime Minister of Great Britain, and I commend that particular point to both banks.
Thank you, Mr President, for the opportunity to respond to this debate. I hope we will continue to go forward in an atmosphere of mutual cooperation for the benefit of Europe."@en1
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