Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-04-05-Speech-2-268-500"
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"en.20110405.13.2-268-500"2
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"I voted in favour of this resolution on officially supported export credits. Export credits are an important instrument for supporting EU enterprises. I agree with the opinion that support for medium and long-term export credits is a powerful tool which is not yet fully exploited in all Member States and needs to be encouraged. Export credits can help to create jobs by securing financing for projects which otherwise would have more restricted access to capital due to their non-market character. Nevertheless, it should be observed that currently there is insufficient transparency to find out what export credit agencies (ECAs) finance or have financed in the past. The lack of transparency leads to huge cost and time overruns, and it also facilitates bribery and corruption. I therefore agree with the rapporteur’s proposal to establish a requirement for the EU Member States to report to the Commission annually on the activities of their ECAs as regards risk calculations and the disclosure of off-balance sheet vehicles, and to make the notification of social and environmental risk calculations mandatory."@en1
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