Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-04-18-Speech-3-549-000"

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"Mr President, the implementation of programmes financed by the Structural Funds requires the cooperation of public and private investors. In Member States that have been seriously affected by the financial and economic crisis, the downgrading of credit ratings for both public and private debt mean financing from private individuals has also stopped. The measure proposed is therefore an exception to the normal cohesion policy framework, justified only by the exceptional circumstances imposed by the crisis. European risk sharing instruments will enable both the European Commission and the European Investment Bank to cover part of the risk associated with lending to banks. By adopting this measure, we hope to maintain the involvement of private investors and overcome significant obstacles in the implementation of cohesion policy programmes that have already been approved, which are aimed at developing European regions and countries, and which will therefore not impose any additional requirements on the European budget. The purpose of this proposal for a regulation is therefore to ensure the continuation of the implementation of the programmes cofinanced by the European Regional Development Fund and the Cohesion Fund. An example of this is Greece, which has already planned projects using this mechanism and is simply waiting for our go-ahead. It is important to point out that the initiative to propose the measure in question came from the Member States most affected. Therefore, we must, as the people’s elected representatives, give consideration to such a proposal and enable its quick, effective and transparent implementation. In this way, the European Parliament can directly contribute to tackling the effects of the crisis in those Member States that currently need us the most."@en1
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