Local view for "http://purl.org/linkedpolitics/eu/plenary/2013-02-04-Speech-1-143-000"

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"en.20130204.18.1-143-000"2
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"Mr President, the Commission’s action plan to help small and medium-sized businesses find sources of finance is a welcome step at this time of extreme difficulty for companies in Ireland and the EU. However, whilst the Commission’s commitment to reinforce its loan guarantee and venture capital facilities will extend a precious lifeline to small businesses with little or no collateral to offer, we must work beyond the EU budgetary confines. The near collapse of the financial system has been acutely felt by Irish entrepreneurs whose efforts and contribution to the real economy have suffered from this lack of liquidity. Irish business faces the second highest rejection rate for loans in the euro zone, with lower levels of lending to SMEs recorded last year than prior to the EU-IMF bailout agreement. We have witnessed constructive refusal on the part of the bailed-out Irish banks, with systemic delay and missed deadlines that hide the true refusal rates and allow them to evade targets that are themselves too loose."@en1
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