- 28 July 2009 ESBA on New Croatian Member UMIS-SMEA
- 10 July ESBA on EP 2009 Election Results
- 30 April 2009 ESBA on Working Time Directive
- 20 April 2009 ESBA Election Quiz
- 9 April 2009 ESBA on Late Payments
- 9 February 2009 ESBA on Icelandic Issue
- 19 January 2009 ESBA on VAT Rates
- 17 December 2008 ESBA on working time Directive
- 04/11 2008 ESBA on Reduced VAT Rates
- 08/09 2008 ESBA in First Voice, UK
- 26 June 2008, SMES react positively to SBA
- 29 May 2008 - ISBC and ISBE supported by the FSB (Belfast, November 08)
- 19 Nov. 2007 - Rome I: Time for the EP to demonstrate its commitment to Better Regulation
- 01 Oct. 2007 - ESBA Backs Member's Campaign to Reduce Admin Burdens
- 29 June 2007 - ESBA welcomes the flexible approach to ‘Flexicurity’
- 24 May 2007 - Lower roaming charges are good news for SMEs, says ESBA
- 16 May 2007 - ESBA applauds MEPs for backing a Green Hydrogen Economy
- 12 March 2007 - Simplicity is key for SMEs in New Health and Safety Strategy
- 23 Feb. 2007 - Energy: ESBA supports binding targets for renewables
- 16 Feb. 2007 - New consumer rules will damage online business, says ESBA
- 13 Dec. 2006 - REACH vote in plenary – mixed result for SMEs
- 07 Dec. 2006 - ESBA welcomes MEP's call to withdraw ESCS Plan
- 06 Nov. 2006 - ESBA backs retaining the WTD opt-out clause
- 23 Oct. 2006 - ESBA Releases its new ‘ESBA Activities 2006-2007’ Publication
- 10 Oct. 2006 - ESBA says SMEs disappointed with EP vote on REACH
- 21 Sept. 2006 - ESBA case studies oppose the proposal on ESCS
- 07 Sept. 2006 - More Commission Staff should get Experience in SMEs!
- 30 Aug. 2006 - ESBA opposes the Commission's proposal on ESCS
- 24 July 2006 - ESBA supports a European SBAct
- 06 July 2006 - Retention of Earnings best way to finance SMEs
- 14 June 2006 - CIP is not enough!!
- 04 May 2006 - ESBA Elects its New President
- 14 Feb. 2006 - Services Directive: A good Compromise
Brussels, 9 February 2009
ESBA calls on the British and Icelandic Governments to consider how their actions damage small businesses
The drastic actions of the British Government on 8th October 2008 towards the Government of Iceland have created serious problems.
Invoking the Anti-terrorism, Crime and Security Act 2001 to issue the Landsbanki Freezing Order 2008 has raised questions such as abuse of power and bullying behaviour towards a member of the European Economic Area.
No consideration was given to the devastating consequences these actions would have on the small business community in Iceland.
Only two days after the Landsbanki Freezing Order, two of the largest credit companies in the World, Euler Hermses and Atradium closed all credit facilities to Icelandic companies involved in import and export, regardless of any prior trading history or creditworthiness. Over 80% of all companies in Iceland are now technically bankrupt, which is a 200% increase in the number of companies closing down. A further consequence is a dramatic loss of jobs for both Icelandic and European employees.
Throughout the EU massive efforts are being made to help the economy to recover from the worldwide financial crisis that started in the banking sector and is affecting almost every small business. The European Commission has issued a Recovery Plan and the plight of small businesses is high on the agenda.
Not so in Iceland, where the label of being ‘terrorists’ has shut down any hope of regaining credibility with investors and governments. Despite the assistance offered by Scandinavian countries and the European Union, perceptions are extremely difficult to overcome and as long as the Icelandic Government remains on the list of ‘persona non grata’ in economic terms, recovery will be a remote possibility.
In economic downturns confidence is crucial to revive spending. Free trade is essential to increase turnover. Both of these essential tools have been severely damaged in Iceland through the questionable application of one British Act.
All the talk in the EU about ‘Think Small First’ has been forgotten when it comes to securing the interests of one group and the opponent is small. This is not the spirit in which small business can thrive, not in Iceland or anywhere else.
Tina Sommer, ESBA President, said: “The members of the European Small Business Alliance are appalled by the way the financial difficulties in Iceland have been handled and call on the British and Icelandic Governments to resolve the issue most urgently to show support for the small businesses community who are the backbone of these countries”.
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