Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-10-24-Speech-1-123-000"
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"en.20111024.15.1-123-000"2
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"Mr President, ladies and gentlemen, it is universally acknowledged that small and medium-sized enterprises (SMEs) play a substantial and important role in Europe’s economy, and it is therefore only fair that they should be the focus of Union action. Access to credit is often quoted as one of the main problems facing SMEs, and we have talked about it extensively today.
With the entry into force of the Basel III rules, however, it may become even more difficult and expensive. Although Basel III was drawn up with the right intentions, it calls for higher capital requirements for the banks, and that necessarily means a squeeze on granting credit and higher financing costs, which is liable to hit SMEs the hardest.
Seeing that loans to SMEs are low risk, would it not be possible to adopt specific measures to resolve this problem? In addition, and most importantly, they need to innovate to remain competitive, but is it possible to innovate without the resources to do so?"@en1
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