Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-09-13-Speech-2-397-250"
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"en.20110913.34.2-397-250"2
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"Public export credit agencies are a key source of financing for European companies, in particular, small and medium-sized enterprises, and play an important role in supporting their development abroad. Indeed, the guarantees provided by these public agencies in the event of a customer defaulting on payment or of non-payment of credits would not be provided, in most cases, by private banks. I endorsed this report because it supplements the OECD Arrangement, a text that has hitherto served as a framework of reference, with obligations concerning the transparency of assets and liabilities and of activities financed by these agencies. These additional obligations, which will come into effect this year, are welcome at this time of financial crisis. They are useful in supplementing the monitoring already carried out by the Member States and will enable the European Commission to ensure the consistency of national policies on support for undertakings. Lastly, the new provisions on transparency will guarantee a more level playing field."@en1
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