Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-09-13-Speech-2-396-000"
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"en.20110913.34.2-396-000"2
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"We already voted on this report back in the spring. However, it was referred back to committee. Now, after further negotiations, satisfactory results have been achieved. Official and officially supported export credit agencies are important sources of official financing for private sector projects, including in developing countries. In these times of overstretched national budgets, they are increasingly important for investments by European corporations, provided they do not have to be refinanced with taxpayers’ money. Since risk is assessed differently by official export credit agencies than in the case of loans provided by private banks, competition can be distorted in international trade – as the Chinese example illustrates.
For this reason, there are various sets of rules, such as OECD and WTO agreements, which set out repayment requirements within a certain time limit and a Minimum Premium Rate. For the purposes of assessment, in order to prevent abuse and to avoid refinancing from taxpayers’ money, greater transparency needs to be imposed through an EU-wide obligation to report annually on activities, etc. This has now been sufficiently taken into account, which is why I voted in favour of the report."@en1
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