Question for written answer
to the Commission
Alfred Sant (S&D)
Subject: Lack of implementation of EFSI projects in small, peripheral and southern Member States
As a result of the global financial crisis, the world market share of US investment banks is growing, whereas the European one is steadily declining. In a Commission’s cover note published for the conference “Europe as an investment destination”, which took place on 06 April 2016, the Commission is mentioning that one major political constraint for investors is “the lack of legal clarity.” They further evaluate in this paper that the simplification of the rules is needed in order to reduce market fragmentation, mentioning the lesser complexity of the US market as one of its main advantages.
• In this regard, the Commission is asked if they have any future plans/strategies on how to remove those remaining obstacles? Are there any studies being conducted or going to be prepared on the national reality in those Member States, lacking to submit proposals, assessing why and at which stage these problems exactly arise?
• Would the Commission agree, while taking into account the recently published “EFSI State of play” for April 2016 that those “obstacles” referred to in the cover note, are mainly hampering small, peripheral and countries of the south to apply for EFSI funded projects?