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| Events |
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| Finance & SMEs |
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On 16th June 2005 the SME UNION of the EPP will discuss the financial situation of the SMEs with the Swedish credit management company, INTRUM Justitia and Moody’s, as well as the SME Circle of the EPP-ED Group in the European Parliament. The Working Breakfast will focus on the impacts of the Basel II, the consequences of the late payment to the SMEs and a new rating for SMEs.
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| Date : |
16-06-2005 |
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| Documents : |
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Program BASEL II
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| Events Report |
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More than 50 guests, including numerous MEPs and representatives of the European Commission gathered, to discuss the current financial situation of the SMEs with the leading provider of independent credit ratings, Moody’s and Europe’s leader credit management company, Intrum Justitia. The purpose of the event was to examine the consequences of Basel II and the current late payment directive from a practical point of view.
Moderator MEP Alexander Radwan, President of the SME Circle stressed in his introductory speech the importance of such events bringing law makers and high level practitioners together.
Need for new SMEs
David Wright, Director of Internal Market and Services DG explained that the high unemployment rate in the European Union can be reduced by an economic growth which has to be achieved in a way European citizens set up new SMEs. He added that the European Union needs a considerable change in the attitude of risk-taking, to reach the economic growth mentioned.
SMEs are particularly hard hit by late payments
Leif Hallberg, director of Public Affairs of Intrum presented the results of the latest 2005 European Payment Survey, revealing that the existing legal enforcement procedures do not sufficiently meet the needs of combating late payments. He emphasized that payment made on time is a crucial prerequisite for the survival of SMEs.
Ratings can be a useful tool for SMEs
Michel Madelain, Group Managing Director of Moody’s presented the new rating service developed specially for SMEs. He stressed that because SMEs will gain insight into their credit profiles, they can benefit from this assessment in their interaction with counterparties and creditors.
Program Finance & SMEs
Factsheet Finance & SMEs |
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Overview
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