9 Amendments of Rosa D'AMATO related to 2016/2032(INI)
Amendment 4 #
Draft opinion
Paragraph 1 a (new)
Paragraph 1 a (new)
1a. Emphasises that with the publication of the results of the Commission's 'Survey on access to finance for cultural and creative sectors' in October 2013, it has emerged that cultural and creative enterprises have huge difficulties in obtaining access to credit and an estimated financial shortfall of between EUR 8 billion and EUR 13.3 billion;
Amendment 16 #
Draft opinion
Paragraph 2
Paragraph 2
2. WelcomesNotes the initiatives designed to diversify sources of funding and reduce the cost of capital for SMEs; stresses the need to improve the way in which capital markets fund the real economy, by developing alternatives to bank loans, and to make EU funding more attractive to SMEs;
Amendment 29 #
Draft opinion
Paragraph 5
Paragraph 5
5. WelcomesDeplores the long delay in the launch of the Guarantee Facility of the Creative Europe programme as one of th, despite the fact that this was established on adoption of Regulation (EU) 1295/2013 of the European Parliament and of the Council of 11 December 2013 as one of the immediate means of addressing the pressing need for accessing loan financing for innovative and sustainable projects in the cultural and creative sectors, where the financing gap is expected to exceed EUR 1 billion per year according to the Commission’s ex-ante assessment;
Amendment 30 #
Draft opinion
Paragraph 3
Paragraph 3
3. Calls on the Commission and Member States to provide a clear and stable legal environment, and to guarantee coordination, consistency and synergies between instruments and programmes which support SMEs, such as the European Structural and Investment Funds (ESI funds), Horizon 2020 and COSME; welcomes the Juncker investment plan, and draws SMEs' attention to the opportunities offered by the European Fund for Strategic Investment (EFSI);
Amendment 31 #
Draft opinion
Paragraph 5 a (new)
Paragraph 5 a (new)
5a. Considers the current financial allocation for the Guarantee Facility of the Creative Europe programme to be totally insufficient considering that this instrument responds effectively to the needs of small and medium-sized enterprises in the cultural and creative sectors; considers inadequate the mechanisms and measures adopted by the European Union to address the structural weakness of small and medium-sized enterprises in the cultural and creative sector, which has been exacerbated by economic policies based on austerity and the implementation of financial deregulation measures, such as, for example, those which underpin the Capital Markets Union;
Amendment 39 #
Draft opinion
Paragraph 3 a (new)
Paragraph 3 a (new)
3a. Stresses the need for banks to remain the principal source of credit for SMEs and for investment banks not to be favoured by means of securitisation instruments; takes the view, furthermore, that transferring risk from banks to non- banking institutions such as pension funds increases systemic risk and could give rise to new forms of moral hazard in that pension funds could in future run into difficulties and need to be bailed out using taxpayers' money;
Amendment 45 #
Draft opinion
Paragraph 3 b (new)
Paragraph 3 b (new)
3b. Voices its concerns at the plan for a Capital Markets Union which, although intended to provide broader, more uniform access to credit for individuals and businesses, thus enhancing their financial inclusion, irrespective of the Member State in which they are based, will increase risk levels throughout the credit and capital system by financialising the economy and penalising savers, in particular in the medium and long term;
Amendment 50 #
Draft opinion
Paragraph 4
Paragraph 4
4. Stresses that the complexity of the rules and the amount of red tape involved in obtaining ESI funding, including disproportionate administrative costs and the time lag before payments are actually received, affects SMEs in particular; calls for a thorough simplification of the process, subject to proper attention being paid to the need for checks for fraud and errors, and urges the Commission to clarify how the rules governing ESI Funds and the rules on State aid fit together;
Amendment 80 #
Draft opinion
Paragraph 5 a (new)
Paragraph 5 a (new)
5a. Points out that, if political action focuses solely on increasing the supply of credit, without addressing the problem of weak consumer demand resulting from, among other things, the increase in inequality, it is unlikely to generate significant development and new jobs;