Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-10-20-Speech-3-385"

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"en.20101020.21.3-385"2
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"Fulfilling contractual obligations in commercial transactions by both public and private administrations is not merely a question of civic duty, but also of taking responsibility for a set of negative conditions that could afflict creditor companies, particularly SMEs. Being able to count on prompt payment means guaranteeing these enterprises stability, growth, job creation and investments. Unfortunately, according to European Commission data, late payments represent a frequent occurrence in Europe and damage competitiveness. Public authorities are particularly to blame for creating difficulties, often due to incorrect management of their budgets and cash flow or as a result of too much red tape in their administrative machinery. Sometimes, a decision is also made to work on the basis of new expenditure structures, without taking into account undertakings made previously, which should be honoured within the contractually agreed terms. I therefore consider it our duty to adopt measures that make up for the shortcomings in the previous Directive 2000/35/EC, seeking in this way to discourage the phenomenon of late payment by adopting measures that induce debtors not to pay late and other measures that allow creditors to exercise their rights fully and effectively in the event of late payment."@en1

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