Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-04-19-Speech-4-282-000"
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"en.20120419.15.4-282-000"2
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"The extensive global financial crisis and economic downturn has severely disrupted economic growth and financial stability and has caused a significant deterioration in financial and economic conditions in several Member States. Although important measures to offset the negative impact of the crisis have already been taken, it continues to have a serious impact on the real economy, the labour market and citizens. A Member State which is in difficulties, or is threatened with difficulties because of exceptional circumstances beyond its control, may receive financial assistance from the European Union. Following the two previous proposals for amending the regulation brought forward in response to the current economic and financial crisis, the Commission proposes a third amendment that lays down provisions for the creation of a risk-sharing instrument. According to the proposal that has been presented, in order to implement the risk-sharing instrument, it would be permitted to transfer part of the financial allocations available to these Member States that are experiencing or threatened with serious difficulties with respect to their financial stability back to the Commission. At the same time, the aim is to ensure the continued implementation of the programmes cofinanced by the European Regional Development Fund and Cohesion Fund in the context of the economic recovery of the Member States under financial assistance. I believe, however, that only projects for which a positive financing decision has been taken by the European Investment Bank or similar institutions are eligible for finance under the risk-sharing instrument."@en1
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