European Parliament
David Martin  (S&D ),
in writing.
– I voted for this report, which welcomes the ECB’s longer-term refinancing operations (LTRO); calls on the ECB to further act in a decisive way in addressing the current euro area debt crisis by maintaining price stability while, at the same time, minimising negative spill-over effects on the real economy and the investments that the banking sector’s liquidity problems might generate; believes that the banking sector must take the necessary steps to address its structural weaknesses with regard to longer-term liquidity risks in order to restore investor confidence and therefore to avoid the need for the ECB to intervene so massively in future; considers that the bank’s operational framework should be shaped in such a way that a proportion of the grants would be made available for development purposes and to support small and medium-sized enterprises.

