Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-10-24-Speech-1-129-000"

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"en.20111024.15.1-129-000"2
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"Mr President, three years ago, the EU once again announced that it was going to pay closer attention to small and medium-sized enterprises. However, immediately after the initiative got under way, the economic crisis hit SMEs particularly hard, and the Basel Committee on Banking Supervision’s ever tighter regulations, in particular, are strangling the financial air out of poorly capitalised small and medium-sized enterprises. The EU study into high growth potential for small and medium-sized enterprises in markets outside the EU and the adapted strategy promised for the end of the month are sure to make little to no difference when it comes to the fundamental issues. The sovereign debt crisis is paralysing economic growth, while there is not really much trace of the promised cuts in red tape. If 99% of European businesses – which, by the way, are also the largest employers – are only able to tap 10 to 15% of European funding, it is high time that the EU’s system of subsidising conglomerates and multinationals were changed by repatriating the supporting body, and that we came swiftly and unbureaucratically to the aid of small and medium-sized enterprises."@en1
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