Local view for "http://purl.org/linkedpolitics/eu/plenary/2002-11-21-Speech-4-015"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2002-11-21"^^xsd:date2
dcterms:Is Part Of	lp_eu:EIB Annual Report (2001)2
dcterms:Language	"pt"^^xsd:language2
lpv:document identification number	"en.20021121.1.4-015"2
lpv:hasSubsequent	lp_eu:2002-11-21-Speech-4-0162
lpv:speaker	lp:Manuel dos Santos2
lpv:spokenAs	member; Delegation for relations with the Maghreb countries and the Arab Maghreb Union (2002-02-07--2004-07-19)3 substitute; ECON (2002-01-30--2004-07-19)3 member; BUDG (2002-02-06--2004-07-19)3 substitute; CONT (2002-01-30--2004-07-19)3 unknown; Partido Socialista (2001-07-03--2004-07-19)3 member; PES (2001-07-03--2004-07-19)3
lpv:translated text	"Madam President, ladies and gentlemen, the report we are currently considering, which I must commend for its quality, clearly emphasises the importance of the European Investment Bank as a crucial instrument for the funding of projects throughout the European Union. It also, however, highlights the decisive role that this bank plays in the economies of the candidate countries for which it proposes, as a matter of fact, to create a special social policy programme. For this reason, the increase in social capital recently decided on can be considered to be in line and consistent with these structural objectives, which are so important to achieving a global European economy that is prosperous and fully sustainable. The European Investment Bank is already responsible for more than 5% of all investments made in the Union, which has enabled more than 400 000 jobs to be created, specifically through the support that the bank gives to small and medium-sized enterprises. It should be remembered that the European Union has recently taken on increased responsibility for the funding of venture capital, in particular for small and medium-sized enterprises, through the EIB. Unfortunately, as the rapporteur also points out, the work of the European Investment Bank is sometimes limited by the orthodox and rigid rules for the consolidation of public finances, which must be complied with under the growth and stability pact. We must remember that a large part of the EIB’s remit is geared towards investments of a structural nature, such as infrastructures or venture capital for small and medium-sized enterprises, and that the success of these investments is often dependent on the possibility of mobilisation in partnership with public spending. The understanding that has just been reached, therefore, is not indifferent, in the framework of the current budgetary rules, to the flexibility that is crucial to the correct implementation of the growth and stability pact. Today it is increasingly clear that Europe has an aim which is also an undeniable need: that of becoming a highly competitive area and therefore, of creating wealth and of harmonising its distribution. This aim can only be achieved, however, through support for structural investments and is, consequently, unfettered by restrictions that could endanger these investments. The quality of expenditure, whether public or private, must be the guiding framework for investment policy and the European Investment Bank has an irreplaceable role in this framework. I congratulate the rapporteur on the content of her report and on having been able to interpret these aspirations."@en1

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