Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-05-22-Speech-2-016-000"
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"en.20120522.4.2-016-000"2
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"Mr President, small and medium-sized enterprises are the cornerstone of the European economy and perhaps the most important vehicle for stimulating growth and creating jobs under the current circumstances in the European Union. However, this sector is the most vulnerable to the impact of the economic crisis. Profit margins of small and medium-sized enterprises in Greece have been eroded by as much as 60%, which is the highest in Europe, followed by Spain with 55%. This compares with Germany, where the profit margins of small and medium-sized enterprises have soared to 21%. My country, Greece, has witnessed the biggest deterioration in the sector and access for small and medium-sized enterprises to bank loans is now non-existent. Many companies are closing, making the situation in the entrepreneurship and labour sectors even worse. However, according to recent lending surveys by the European Central Bank, banks have increased the criteria for loans to small and medium-sized enterprises. The Commission therefore needs to consider and propose measures to facilitate the take-up of funds, especially by countries which are unable to raise their share of cofinancing due to strict austerity measures. The Commission needs to foster cooperation and synergisms between the Structural Funds and the European Investment Bank in order to identify financing instruments that will generate exponential results. The most profitable sectors of each economy must be identified and proper strategic planning is needed."@en1
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