Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-12-17-Speech-3-361"
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"en.20081217.24.3-361"2
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"In answer to Mr Zwiefka’s question, we will certainly talk to the banks. They also reveal the difficulties they are going through in their balance sheets and their financial statements.
Evidently, all the resources, all the decisions and all the measures adopted, at both European and Member State levels, plus the liquidity provision and the interest rate cuts made by the European Central Bank and other central banks, are all designed to avoid a credit collapse and to stimulate and create a suitable framework for recovery of the credit and financing levels needed for families and businesses.
Small- and medium-sized enterprises are undoubtedly much more dependent than large enterprises on bank credit for their financing. That is because, despite the current market difficulties, large enterprises can directly issue their securities or bonds and obtain funding on the securities markets or fixed-income markets. SMEs need the channel provided by the banks.
We sincerely hope that the banks and the credit system respond positively to this volume of aid and support, which is necessary now but of a size that would have been unimaginable only a few months ago.
I believe that it is not only our governments, the European institutions and the central banks that have to accept responsibilities – and we are accepting them. The banks, too, have responsibilities, in so far as they have been given support in the form of recapitalisation based on public money or deposits guaranteed by the public purse. They have responsibilities to the rest of society and, in particular, to SMEs."@en1
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