Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-02-14-Speech-1-145-000"

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"en.20110214.16.1-145-000"2
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"Mr President, the funding of small and medium-sized enterprises remains a major problem. In spite of the measures that have been taken, the situation today in this important sector is still critical. I believe you are familiar with the analytical report by the international organisation Bankwatch, which analyses a breakdown of European Investment Bank lending in four Member States. The report shows that hitherto, loans provided by the European Investment Bank were fundamentally only of benefit to the banks themselves, which were allocated EUR 15 billion and given a deadline to find companies that require this support. There is concern that although money was received from the European Investment Bank, commercial banks tightened bank credits for small enterprises, and the money was mostly used to fund large and prosperous companies. I believe such a situation shows that in this area, there is a need for far more stringent monitoring and control of commercial banks, and the European Commission must also play a greater role so that this aid is not misused."@en1
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