Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-04-24-Speech-4-055"
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"en.20080424.6.4-055"2
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".
Madam President, Commissioner, Mr Radwan, ladies and gentlemen, I warmly welcome this report and this debate because I think we are probing some really sensitive issues, and we are doing so on a genuinely cross-party basis.
Several points emerge very clearly from what has been said. Firstly, we need a single set of standards for public limited companies, but we do not want to lump all companies together. Secondly, while we are not rejecting specific rules tailored to SMEs, the framework for those rules must be established by us, by the European Union. Thirdly, the measures currently proposed are too complex and too expensive, they are of no use to SMEs and for those reasons we must reject them. Fourthly, we are still awaiting satisfactory answers to the questions of who makes what rules for whom, and who supervises the process. There is no democratic legitimacy; there is no differentiation of approach; no account has been taken of the justifiable wishes of SMEs; and the system of democratic supervision is inadequate.
Fifthly, in taking a stance on this issue or trying to answer these questions, it is often forgotten that two-thirds of the workforce are employed in the private sector in family-owned companies, and the majority of those family-owned companies are SMEs that do not seek finance from the capital markets. This is a point we need to remember when we are confronted with proposals that would treat all companies alike.
Thank you for this worthwhile debate!"@en1
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