Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-02-16-Speech-3-262-000"
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"en.20110216.11.3-262-000"2
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Support for small and medium-sized enterprises will safeguard numerous jobs and strengthen the innovation potential of the European economy. It is therefore absolutely right to ensure the reasonable provision of loan capital for these enterprises, as only then can they make the necessary investments. However, the increase in venture capital called for by the European Parliament is to be rejected on principle. Instead of placing banks under an obligation to support the real economy by providing appropriate credit, Parliament is calling for it to be easier for small and medium-sized enterprises to get contributions from investment funds and private equity firms on the capital markets.
With a motto of ‘locusts for everyone’, the motion for a resolution calls in places for private equity firms to make it easier to do business with them. This would turn smaller enterprises in particular into the pawns of investors to an even greater extent than they are now. These investors are very often on the look-out for absurdly high two-figure profits, which they can usually only achieve by carving up the acquired enterprises and selling them off bit by bit."@en1
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