– Question No 30 by Rodi Kratsa-Tsagaropoulou (H-0163/09)

Subject: Impending recession in south-eastern Europe and implications for the European economy

According to recent analyses by international financial institutes and credit-rating agencies, a major economic decline is to be expected in south-eastern Europe accompanied by the danger of loan default on the part of consumers and undertakings. This could have extremely serious implications for the economies of the EU Member States, given the major investment by western European undertakings and banks in this area.

Is the Commission in favour of providing support for banks in the countries of south-eastern Europe – under national programmes of action forming part of the European Neighbourhood Policy – in cooperation with these countries and possibly the European Investment Bank? How does the Commission intend to deploy available funding, for example the Instrument for Pre-accession Assistance (IPA) and the European Neighbourhood and Partnership Instrument (ENPI), with a view to reinvigorating local economies and staving off the impending recession?