EurActiv - Letters to the Editor

Sir,

The big banks, which caused the current recession, refuse to take responsibility to date. By calculating excessively high interest rates, the economic recovery is being blocked.

EuropeanCompanyMarket has found that the negative sentiment is fortunately decreasing. The number of visitors on the website www.E-cm.eu is increasing. People from all over Europe are interested in starting companies or taking companies over. For a few months now, the EuropeanCompanyMarket has been putting effort into creating a movement of entrepreneurs in order to achieve the recovery of the economy.

Banks are blocking these initiatives by calculating extortionate interest on financing and mortgages. Where up to a year ago, money was being dumped into bottomless pits, the word ‘security’ has now been elevated to primary importance. Any risks are being eliminated and interests is being charged of five to 10% above the 1.25% provided by the European bank. This may not count as theft, but it certainly is extortionate interest.

The desire towards entrepreneurship still exists and the opportunities are still there. We may have to be more inventive, and literally extend our borders. However, the banks are blocking these opportunities with their impossible demands when it comes to financing.

Bert van Holten

EuropeanCompanyMarket

Lekkerkerk

The Netherlands

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