EPP Group proposes better SME financing via EU’s Capital Market Union

Small and medium-sized enterprises (SMEs) that are the backbone of Europe’s economy need more financing options after the financial crisis caused banks to cut back on lending. The EPP Group’s Othmar Karas authored a Report adopted by the European Parliament’s Economic and Monetary Affairs Committee on Tuesday that urges the EU’s proposed Capital Market Union to help SMEs gain access to other financing sources like investment capital and crowd funding. Karas’ Report also calls for a one-stop shop to help SMEs get financing and to avoid heavy regulation in getting that financing.