The Credit Crunch and Late Payments: Policy perspectives to looming recession

One major concern in the aftermath of the financial crisis is the damage caused to the businesses, in particular to the SME sector which is the most important source of growth and employment creation in the EU. The weakening of SME finances will not only be caused by bank financing shortage but also by the cash flow damage from payment delays on outstanding invoices. What can policy makers do to mitigate this problem?

Distinguished speakers at the event were Gert-Jan Koopman (Director for Economic Service and Structural Reforms of DG Ecfin, European Commission), Othmar Karas (MEP and Vice Chairman of the EPP-ED Group), Rudiger Ahrend (Senior Economist of the OECD) and Michael Wolf (President and CEO of Intrum Justitia Group). The discussion was chaired by Erik Musch (former Secretary General of the Basel Committee on Banking Supervision and former Chairman Global Financial Services Practice, PWC). 

This lunchtime seminar organized by CEPS in cooperation with Intrum Justitia took place on Thursday, 27 November 2008, from 12.30 to 15.00 at CEPS premises.

Click here to download the programme and here to download the minutes of the workshop.