Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-10-19-Speech-2-580"
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"en.20101019.23.2-580"2
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"In many EU Member States, it is common practice for invoices of ninety days and longer to be requested by the public sector and large businesses. Small and medium-sized enterprises therefore serve as banks for public corporations or large businesses. The internal debts of small and medium-sized enterprises accumulate, giving rise to an economic poison in the form of invoices with long payment periods which are hard to enforce. This reinforces economic inequality and also significantly reduces competition. Small and medium-sized enterprises are forced to cover long payment periods with credit, which they always get under worse terms than could be obtained from banks by large firms or the public sector. The new conditions and rules for all parties significantly help small and medium-sized enterprises to defend themselves against this disguised credit. The fixed interest rate for late payments, proposed at 8%, is an adequate deterrent for large firms too, the fixed 30-day payment period is balanced for supplier and purchaser, and the 30-day delivery verification period prevents abuse of the verification procedure for extending the payment period. Above all, as regards the European rules, they prevent the public sector and large companies from distorting the legislation adopted at a national level in the Member States. I sincerely thank the rapporteur for this extremely valuable report and excellent result."@en1
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