Local view for "http://purl.org/linkedpolitics/eu/plenary/2009-12-15-Speech-2-103"
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"en.20091215.10.2-103"2
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"The financial and economic crisis caused primarily by British and American speculators is now leading to growing unemployment in Europe as a result of the economic downturn. It is mainly young people, who were already at serious risk of unemployment, who have been particularly hard hit by the changing situation. Therefore, it is especially important to give them an opportunity to start or restart their careers and to pave the way for some of them to start their own companies. I hope that the new European microfinance facility for employment and social inclusion – Progress – will give them significant support in this respect.
This new instrument also allows us to respond to the continuing credit crunch. As well as interest rate support, people who set up micro-enterprises will also receive support in the form of mentoring, training, coaching and capacity building. I support the committee’s initiative to increase the funding for the microfinance facility by 50%, compared with the Commission’s proposal, to EUR 150 million. Looking at the huge sums that have been spent on rescuing the banks, it is important to be generous to those people who have been hardest hit by the situation. For all of these reasons, I have voted in favour of this report."@en1
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