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April 14, 2014
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As a consequence of the eurozone crisis nearly all the EMU countries have seen aggregate company numbers fall over the past few years. The crisis has hit small and medium-sized enterprises on the eurozone's periphery particularly hard. The low demand triggered a sharp drop in the number of firms, mainly in Ireland and Spain but also in Portugal and Italy. As the crisis progressed, the funding conditions for enterprises in these countries gradually worsened and the differences in lending conditions between small and large companies increased. Apart from better funding access for SMEs also the elimination of structural obstacles to growth ought to be on the political agenda. [more]
2.6.3