In reply to COOPERATIVES EUROPE’s representations concerning the lack of confidence in the financial system, and promoting the merits of the co-operative business model in the current crisis, José Manuel Barroso, President of the European Commission confirmed that:
“Cooperative businesses that have stayed faithful to cooperative values and principles and the cooperative banks which rely on members' funds and are controlled by local people have generally been able to resist the crisis very well.”
and “It is for this reason that in 2004 the Commission adopted a communication which acknowledged the importance of the co-operative enterprises for the European economy, and suggested actions to be undertaken in order to promote their growth and competitiveness. As a follow-up, the Commission will draft a report on the implementation of the measures taken so far for the promotion of
the cooperative type of business, which will assess the challenges ahead and possibly propose further action in 2009.”
COOPERATIVES EUROPE co-Presidents, Pauline Green and Etienne Pflimlin, “... welcomed the Commission’s support for the co-operative model of enterprise and its importance to the European economy with the hope that this approach would now be adopted by all parts of the European Commission. “
“As emphasised by President Barroso, we will be urging all co-operative enterprises to take advantage of the measures included in the recently adopted Small Business Act for Europe and in the European Economic Recovery Plan and can now expect positive reactions from the Commission to our proposals.”
ENDS