The following message from ESBG appeared in today's Politico.eu Morning Exchange.
The European Commission Capital Markets
Union puts front and centre
the need to unleash financial investment in Europe's real economy.
Unlocking funding for SMEs includes giving start-ups access to capital markets
– a welcome and undoubtedly ambitious aim to nourish more mature, growth-minded
mid-sized firms. The need remains, however, to keep bank-based lending as the
main financing route.
Savings and retail banks know the SME financing story
perhaps better than anyone. Working daily with SMEs to provide financing, ESBG
member banks remain unwavering in their role, despite facing an onslaught of
tougher bank rules that flowed from the wake of the financial crisis. Focused
on being close-to-customer, their overall business lending model helps create
and maintain vibrant local economies, providing them with loans on the books
valued at more than €1 trillion.
That’s plenty of reason to keep local banks in
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