Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-05-22-Speech-2-028-000"
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"en.20120522.4.2-028-000"2
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"Mr President, my region of the north-east of England is taking advantage of JEREMIE but it took many months to put the scheme in place. We need to go a step further now and help SMEs by mainstreaming revolving funds, loan guarantees and similar systems so that they are part of cohesion policy instruments.
There is no one simple answer to the problem of SMEs’ lack of access to credit. My colleague, Sharon Bowles, has been doing her best through amendments to the Capital Requirements Directive, but SMEs need other avenues to finance in addition to bank lending.
Crucially, along with the financial instrument itself, there must be proportionate corporate auditing and reporting standards, because there is no point in making finance theoretically available to SMEs if there is so much red tape that in practice, no small business has time to put in an application. Structural Fund financing needs to be fully accessible to even the smallest small business."@en1
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