The way on the other hand remained unknown

Full blur last night among the bankers. "We don't know at this time none of the details of the device selected credit to SMEs." "More than the funding priority is the liquidity," lamented one of them. The principles set out by the head of the Government in the National Assembly are clear: "We asked the European Investment Bank to intervene heavily on the financing of SMEs." We are preparing new rules for the intervention of Oseo. And we are considering, in connection with the Caisse des Dépôts, look at how to direct a portion of the surplus of the booklet A collection to SMEs. "The way on the other hand remained unknown.

While President of Oseo, public bank SME went to Bercy yesterday, the authorities think to use a share of 25 billion of surpluses of the book to increase line, today the LDD funds (ex-money) EUR 4 billion, employed by OSEO for its refinancing. Oséo thus have ways to increase the level of guarantee to bank credit.

Remains to measure the impact of this type of measurement. Currently Oséo claims Fund only 4 of the small business market. "Of which returned the credit to SMEs is no longer growing." "Even if we act on 1 or 2 billion credit, a contraction of 4 or 5, these measures can have an effect," we met at Bercy.

Competing in the proposals

However without waiting, employers took the lead for two days, playing one-upmanship in the proposals. As the recapitalisation of Dexia made of the envy: "When we see that the Caisse des Dépôts et Consignations gives EUR 2 billion to an institution that has made the shit in the United States, it is said that the State may also take initiatives to strengthen the capital of French SMEs", launched yesterday Yvon Jacob, Chairman of the Group of the industrial federations. On a more diplomatic tone, the General Confederation of small and medium-sized enterprises (CGPME) listed in the day ten measures to even, according to her, to make business "more security, more transparency and better access to credit." Measures that it hopes to materialize quickly in a legislative proposal.

On the merits, the organization chaired by Jean-François Roubaud requests the Government of property to make the "distinction" between issues of SME cash flow and financing of their development. It calls for the strengthening of the holdings of the State to OSEO and the diversification of the products of the European Investment Bank (EIB). It should also take tax provisions to increase the threshold of the tax of solidarity on the convertible (ISF) fortune, since the Tepa law, equity in SMEs of 50,000 to 75,000 euros. And to implement specific loans "young companies of 2-5 years" guaranteed by the State, "in the extension of the loan to the creation of company".

Sixteen-point programme

The CGPME also admits that the mutual guarantee between companies deserve to be "developed". But most importantly, it calls on the authorities to "better" the profession of the Bank and insurance. According to it, the obligations imposed by Thierry Breton, when he was Minister for the economy, are still not properly applied: to be "mandatory banks quarterly report on the amounts of funding provided to SMEs", she says, and remind insurers "the obligation to devote a minimum 2 of the outstanding life insurance to financing of SMEs". Claimed in the same vein are "best support" of the process of disengagement of the Bank and a "limitation" of the guarantees required for a credit.

Tuesday evening, the Medef had conducted its own program ("Les Echos" of yesterday), in sixteen points. If the organization chaired by Laurence Parisot wants to see the States take at European level "measures which will regain normal functioning of the monetary system", she believes that "in the meantime", the public power must "help SMEs to passing this difficult course." Among its priorities, enlargement, here, too, OSEO, but also of tax relief missions and the relaxation of the rules of allocation and implementation of public procurement.