Higher credit costs for businesses in southern Europe 'unacceptable', says Council of Europe
Saturday, May 4, 2013 @ 12:24 AM
COMPANIES in southern Europe having to pay far more than those in the north to get finance is 'unacceptable', says Herman van Rompuy, president of the Council of Europe.
He has called for the Central European Bank (BCE) to 'take more committed action' to stop this discrimination and make it easier for small and medium-sized companies (SMCs) to obtain credit in accordance with the Spanish government's request.
“Restrictive credit conditions mean recovery is a huge upheaval which affects smaller firms to a much greater degree,” stated Van Rompuy yesterday (Thursday) at a conference in Estoril (Portugal) which was broadcast internally at the EU offices in Brussels.
Read more at thinkSPAIN.com