Local view for "http://purl.org/linkedpolitics/eu/plenary/2013-12-12-Speech-4-038-000"
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"en.20131212.7.4-038-000"2
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"Mr President, first of all can I say that I join with those who raised concerns about SMEs. Ninety per cent of all businesses are directly associated with SMEs and two thirds of all employment in the euro area, and the survey ʻAccess to Financeʼ published by both the ECB and the Commission, finds that 13% of SME loan applications were rejected in 2013, 16% of SMEs received less than they originally applied for and 7% of SMEs were too discouraged to even apply for a loan.
So what can you do about that? Let me suggest what you can do about that. Make it a condition in LTRO II that the banks you are going to finance actually have bank managers. What got us into this mess is ticking automatic boxes. We need bank managers who look at your track record, your business model, your character and then take a calculated risk, not a gamble but a calculated risk, and I ask that that be made a condition.
May I say this as well: what will history say of this era? They will say: gone are the times of the Romanovs and the Hohenzollerns and the Ottomans and the Habsburgs. Gone are the times of Stalin and Hitler, gone is the Berlin Wall, and then they will say that, true, it was the worst crisis since the 1920s and 1930s – and we weathered it!
Why did we weather it? We weathered it because we had the institutions, we had the Central Bank and we had the Commission and let us not forget that. In times gone by nationalism beggared our neighbours. Why we have survived is, with all their imperfections, because of these institutions."@en1
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