Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-02-14-Speech-1-156-000"

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"It is widely accepted in the European Union that SMEs need better, more direct access to finance. As highlighted in the 2020 Communication, the financial crisis has halved Europe’s growth potential. The impact on real economic activity could be said to be more pronounced in Europe, due to SMEs high reliance on bank loans. The way out of this crisis for SMEs would be to further support and develop equity markets and small innovative enterprises. The establishment of an SME finance forum last May signalled a positive move towards improving SMEs’ financial prospectus and their future viability in Europe. I believe that over 1.8 million SMEs benefited from loan guarantees in 2009. Let us not forget that SMEs are the bread and butter of the European economy. It is crucial that adequate bank lending is returned to normal levels as soon as possible. Europe must work towards creating a viable venture capital market as a priority."@en1
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