Changes are being prepared to ease European regulations which establish how companies, especially the smaller ones, can issue a call for the public to buy shares in their enterprise. In Europe this happens much less than it does in the capital markets of the US, the UK or Asia. It puts the Union at a disadvantage when there is a need to mobilise funds for greater investment.
The claim has been made that European regulations covering share issues are too burdensome. It deters smes from converting their enterprise into one that is financed by the sale of shares to the public. But not everybody concurs with the view that regulations should be greatly loosened and those who do not, insist on the importance of ensuring that prospective investors are fully protected.
They have a point. However, “protection” should not be so stringent that it ends up leaving investors with nothing to invest in.
As always, a balance has to be kept between contrasting requirements. I am discovering that is not so easy since as rapporteur for the European Parliament on the version of the draft law now before it on this very subject, I try to reach such a balance.
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PLANNING
I just cannot understand why for some people, the idea of planning is something out of this world. They tell you: One has to deal with events as they happen, by being ready to ride on any opportunity that emerges and by forestalling all threats.
Granted; as if this is not what those who do have a plan, are actually doing. Indeed the preparation of a plan enhances the ability of operators to implement what needs to be done.
For a plan does not mean a rigid approach that gets stonewalled if the assumptions on which it rests are sidelined by events. To the contrary, a plan provides the basis by which to understand how circumstances are changing. It indicates which tools and guidelines are available to counter arising developments. It gives as well a sense of direction for otherwise, the impression both internally and externally is that one happens to be on a ship which is being driven by the wind.
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CONCRETE
Beyond all stupid partisan considerations, the information about the bad state of the concrete works carried out for the old people’s home at Cospicua is disquieting. It echoes similar news about other public works of the last few decades. It would be wise to investigate what is going on for the suspicion arises of a systemic mismanagement.
On the one hand, large scale projects are being carried out – could it be deliberately? – with substandard concrete. On the other hand, those who are supposed to be monitoring that work is being carried out as it should be carried out, are failing in their duty. As a result, apart from a glaring waste of public funds, the welfare of many citizens is negatively affected.
I do not know who invented the idea that an inquiry to investigate this should be carried out by the ministry for the elderly. Obviously this is not within its remit or capabilities but should be the responsibility of whoever is charged with safeguarding public funds.