Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-11-15-Speech-2-434-193"
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"en.20111115.27.2-434-193"2
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"I welcome this resolution because, owing to differences in national legislation, many companies find themselves at a competitive disadvantage and find it difficult to operate. The restructuring of insolvent companies is also hampered. It should be noted that a single and effective insolvency framework is a very important instrument of the market economy. It not only helps to sustain business and production capacities, but encourages change, and the speedy redistribution of resources also plays a particularly important role in the area of credit and investment. I therefore believe that the insolvency framework must function as a tool within a European crisis management framework. Consequently, insolvency requirements and the conditions under which insolvency proceedings may be opened should be harmonised at EU level, as should certain aspects of avoidance actions and other requirements. Only by implementing these measures will an effectively functioning competitive environment be created for businesses, along with opportunities to sustain businesses that face temporary financial difficulties."@en1
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