Governments, central banks and international institutions have been mobilisingresources in an effort to mitigate the economic consequences of the coronavirusfor small and medium enterprises (SMEs). But the current rescue programmes arelargely debt-based, suggesting a rapid rise in debt levels at the firm level,not coordinated at the European level, and differing greatly in volume acrossEU member states. To overcome these inefficiencies, academics have recentlyproposed a European Pandemic Equity Fund (EPEF) to provide equity-likeinvestments in SMEs, in exchange for a proportionate participation in thecompanies’ earnings.
- To what extent can the EPEF address SME financing problems? How will such an initiative channel funds to SMEs?
- How does the EPEF relate to the EU SME IPO fund that President von der Leyen proposed, or other crisis related funds (e.g. Solvency Support Instrument)? How will these initiatives coexist?
- Will such a fund be complementary to existing national programmes, or rather a substitution for some of them?
- What is the current regulatory framework for SMEs and how should the eligibility criteria for funding SMEs be defined?
- How might the current EU legal framework on competition and State aid interact with any(EU/national) initiative on SMEs financing?
Speakers:
- Elena Carletti, Professor of Finance, Bocconi University; founder and Scientific Director, Florence School of Banking and Finance, European University Institute
- Barry McGrath, Manager, Innovation and Alternative Finance, European Investment Fund
- Jesús Gonzalez Nieto, Director of MAB (Mercado Alternativo Bursátil – Alternative Stock Market), Bolsas y Mercados Españoles
- Morana Mavricek, Policy Officer, DG FISMA, European Commission
Moderator: Apostolos Thomadakis, Researcher, CEPS-ECMI
Instructions:
This event is free and open to the public, but you must register to gain access to the meeting.
Once registered, you will receive instructions on how to join this event.
You can also follow the webinar via CEPS Youtube Channel
You can also follow the webinar via CEPS Youtube Channel
Contact person: Beatriz Pozo (beatriz.pozo@ceps.eu , +32 222 93 987)
