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pursuant to Rule 133 of the Rules of Procedure

on the importance of publicly owned cooperative societies in credit management during times of economic crisis

Mario Borghezio

European Parliament motion for a resolution on the importance of publicly owned cooperative societies in credit management during times of economic crisis  

The European Parliament,

–       having regard to Rules 133 of its Rules of Procedure,

A.  whereas in accordance with the cooperative approach, cooperative banks have always focused primarily in the areas in which they are based, providing credit to local small and medium-sized businesses, tradespeople and households;

B.  whereas their first-hand knowledge of their clients and their businesses allows them to offer a targeted response to applications for credit even in times of severe economic crisis;

C.  having regard to its resolution of 2 July 2013 on the contribution of cooperatives to overcoming the crisis;

D.  whereas cooperative societies are explicitly mentioned in Article 54 of the Treaty on the Functioning of the European Union;

E.  whereas the Commission has found the current rules on cooperative banks to be fully compatible with EU law;

F.  whereas in 2007 the Commission expressly declined to impose the principle of proportional representation at EU level;

G.  whereas Regulation (EC) No 1435/2003 on the Statute for a European Cooperative Society does not regard size as a relevant criterion for determining whether an undertaking should forfeit its status as a cooperative;

H. whereas the Italian Government has adopted a legislative decree abolishing the ‘per capita vote’ (i.e. shareholders each have only one vote, irrespective of the number of shares they hold) and the limit to the number of shares owned;

1. Calls on the Commission to do all it can to safeguard the unique profile of cooperative societies, which can play a key role in countering the effects of the crisis, and to ensure they may continue to serve society by providing support to households and small and medium-sized businesses.


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