Brussels, 13/06/2013 (Agence Europe) - The Portuguese president, who was speaking during his visit to the European Commission on Thursday 13 June, said it is necessary to promote economic growth and job creation and that the right conditions must be created for a return to the financial markets in order to finance the economy.
Anibal Cavaco Silva welcomed the fact that the European Investment Bank (EIB) funds will be more available for funding SMEs. He said the structural funds should be used as quickly as possible in order to combat unemployment.
The ECB should also, according to Portugal: - intervene on the secondary public debt market in order to support Lisbon in its return to the financial markets; - and to improve the conditions for funding SMEs.
The day before the European Parliament, the Portuguese president called for the creation of a true economic and monetary union, considering it fundamental to give concrete substance to the banking union as soon as possible in order to reduce credit market fragmentation and improve the conditions for corporate financing. In Portugal, the costs paid by Portuguese companies when they want credit are almost three times as high as those paid by companies in other countries. (LC/transl.jl)