Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-11-19-Speech-1-222-000"
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"en.20121119.26.1-222-000"2
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"Mr President, the Commission, and you especially, Mr Barnier, show great initiative, great engagement, when it comes to social business. That is good, and very welcome. I have one major criticism of this Commission proposal, however: the basic idea of opening up social business to financial market operations is not a good one.
The Commission bases itself on the premise of commercial, profit-making enterprises. For a field where lenders or businesses have an overwhelmingly social remit and reinvest their profits, the European fund is not the right instrument. Private investors investing long term in not-for-profit projects already have a range of options: development banks or public-private partnerships, to name just two. Social business must continue to be organised democratically on a basis of solidarity."@en1
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