Meeting with European Investment Bank

As a member of the Economic and Monetary Affairs Committee in the European Parliament I have been pushing for more assistance for the SME sector and the development of stricter European financial services regulations.

We find ourselves in extraordinary economic circumstances and I am fighting to get as much assistance as we need from the EU to get us through these difficult times.

Today, I am in Luxembourg having talks with the European Investment Bank looking to secure more funding for Irish businesses.

In Dublin alone there are approximately 400,000 people employed in 100,000 companies in the SME sector.

In March I wrote an opinion on the Renewed Social Agenda for the Economic and Monetary Affairs Committee. Below is the text of that opinion.

_______________

The Committee on Economic and Monetary Affairs calls on the Committee on Employment and Social Affairs, as the committee responsible, to incorporate the following suggestions in its motion for a resolution:

1. Reiterates the importance of a strong SME sector in order to provide a stable foundation for sustainable economic growth and social development and in order to increase living standards and the social fabric by stimulating private ownership and entrepreneurial skills, generating employment, diversifying economic activity, and contributing to regional development; welcomes, therefore, the Commission's initiative to reduce red tape in business but, given that the vast majority of enterprises in the European Union employ fewer than 10 people, believes that more needs to be done in this regard;

2. Regrets that although the financial crisis demonstrates the importance of State action in regard to maintaining economic activity and strengthening social cohesion, the Commission has not ensured the future of and the crucial role played by public services in the European Union by proposing a framework directive on services of general interest;

3. Will pay particular attention to the Commission’s report on the impact of demographic ageing on public spending and to its communication on the long-term sustainability of public finances, which are to be submitted in 2009; in that context, will take steps to ensure that the proposals for the modernisation of pension schemes do not lead to a decrease in the resources available to retired people; will also pay particular attention to the pension status of atypical workers;

4. Welcomes the importance given to the conventions adopted by the International Labour Organization, which must be regarded as minimum standards as regards decent work, and emphasises the importance of restoring the remunerative value of work, both within the European Union and in its relations with third countries;

5. Recognises the role that micro-credit can play in promoting social inclusion and in enhancing economic opportunities; calls on the Commission to improve the generation of and access to information relating to the opportunities as regards and availability of micro-credit and to target actively those groups in society that could benefit most from and that have most need of micro-credit;

6. Believes that the Commission and the Member States should step up their efforts to improve digital literacy and access to the information society; emphasises that special attention must be given to tackling the digital divide by focusing on access to information technology and to education by older people, people with disabilities, and people living in rural and marginal regions;

7. Calls on the Commission and the Member States to promote financial inclusion and education and to ensure that all citizens have access to basic banking services;

8. Welcomes the setting up in 2007 of the European Global Adjustment Fund; calls for further exploitation of the potential of that fund through the simplification of the relevant procedures.

Click here for more opinions that I have written at the European Parliament

"We can't just hope for the best, we have to fight for it"

Vote 1 Eoin Ryan MEP - Fighting for Dublin in Europe