Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-02-11-Speech-4-135"
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"en.20100211.12.4-135"2
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"Given the slowdown in economic activity and the worsening employment situation, especially among young people, the European Parliament and the Commission are putting in place a new microfinance instrument named Progress. Action by the Democratic Movement MEPs focussed on granting access to the instrument to micro-enterprises in the social economy, so that they can develop flanking social services for vulnerable persons who wish to create or develop their own micro-enterprise. As regards funding for the instrument, the Democratic Movement MEPs defended the idea of a new budget heading which would not make cuts to the Progress programme, which finances numerous initiatives to promote employment.
In the end, a balanced compromise was struck between the Commission, the parliamentary groups and the Council, which makes provision for mixed funding (EUR 60 million from the budget for the Progress programme and EUR 040 million from new European budget headings). The entry into force of this new instrument is a step forward that bears witness to the Union’s wish to take specific action in the face of the legitimate social concerns of its fellow citizens and proves that there is an interest in greater involvement on the part of the European Parliament in Europe’s decision-making process. The Democratic Movement MEPs welcome this."@en1
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