Local view for "http://purl.org/linkedpolitics/eu/plenary/2013-12-12-Speech-4-042-000"
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"en.20131212.7.4-042-000"2
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"Mr President, the SMEs are our biggest collective employers who create the bulk of value in our economy and they remain in extreme financial difficulties. It entails the loss of growth opportunities and is felt most acutely by the euro area countries that were the hardest hit by the crisis where our SMEs face much higher default risks and borrowing costs.
The European Central Bank has been providing the euro area financial sector with unprecedented levels of assistance, as was seen with the emergency liquidity assistance channelled through the national central banks, and yet the financial sector, reprieved due to ECB and taxpayersʼ unconditional support, has failed to yield by way of growth and job creation. Public purses, small businesses and homeowners have all been treated like delinquents by a sector they had to save from itself and they face stringent conditions to make ends meet.
We need credit lines for our businesses. The ECB and the Troika have shown very little appetite for forcing banks to pass on the liquidity they get at the cheapest rates from the European Central Bank. I would say to Mr Draghi: please extend a modicum of the decisiveness and generosity you have shown to others to our SMEs and provide direct credit lines to fund their potential and contribute to the real economy."@en1
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