Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-10-20-Speech-3-415"

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"Italy is the country where enterprises suffer most due to late payment by public authorities, with an average period for payment to suppliers of 180 days as opposed to the European average of 67 days. This leads to financial problems, a drastic reduction in investment opportunities and a loss of competitiveness, particularly for SMEs. The directive we have voted for today discourages debtors from paying late and allows creditors to protect their interests effectively against such lateness, introducing the right to legal interest caused by late payment even when not specified in the contract. It also forces public authorities to pay within a maximum of 60 days from the payment request, provided the service has been performed satisfactorily. The adoption of this directive is truly a great help for our enterprises: nowadays, one company in four closes down as a result of problems of insufficient financial liquidity. These new rules on payments will mean that companies will regain their market competitiveness and no jobs will be lost."@en1

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