The collected savings represents a stock of 1

Much was said about the shortage of bank credit ("credit crunch") and threats bottlenecks companies. On the other hand, the shortage of funding capital ("equity crunch") is to descend on entrepreneurs, SMEs, intermediate-sized companies (ETI) which represent about two thirds of the French economy. Too many SMEs see their turnover decline, payment delays to degrade and harden Bank financing. Unlike the major players, our French SMEs lack of own funds and do not have access to financial markets.

The liquidity crisis, is deadly: 40,000 SMEs have already filed their balance sheets. Through SMEs, it is the French economy which is suffering: unemployment rate of 10, investment in fall (-40 billion euros in 2009), trade deficit.

On the other hand, are almost 120 billion euros have been made to the banks and large companies in the last twelve months: 20 billion lent to banks by the State and the European Central Bank and more than 100 billion euros have been lifted by large companies and banks since January 2009.

Financial institutions and large companies have, through their proximity to the State and the financial markets, avoid the liquidity crisis and strengthen their funding. This is not the same for SMEs.

It did not measure the extent to which the excessive use of debt and lack of investment capital in recent years have had a destructive impact. Number of acquisition of business operations were funded by a massive debt over their capacity for investment and development. When the interest of the shareholder is more aligned with the interests of the company, the enrichment of one is over another.

It did not measure how, since 1975, the French system had gradually confiscated our savings to the benefit of the State (to finance its debt) and that of large enterprises, at the expense of investment in SMEs, which are the first creators of jobs. over fifteen years, SMEs have created 1.8 million jobs, while large companies eliminated 270,000.

Yet the French save. Their savings rate stands now at 16.7 of the income. The collected savings represents a stock of 1.500 billion euros in total of which more than 80 are placed in bonds, good. "Cash in" in SMEs own funds investments reach barely 0.4 per cent net assets under management of the institutional French.

Since 1975, how growth SMEs faced the "glass ceiling" and could not take advantage of globalization to strengthen their market shares, their ability to innovate and establish themselves in new countries Crucial years have been lost and globalization is now suffered.

These practices are no longer acceptable today. It is imperative that the savings collected by our financial institutions found his vocation: investing in own funds of enterprises to generate growth, create value, employment and realign durably the interests of the company and the interest of the shareholder... It is not the right to speak out of the crisis as long as there will be no resumption of employment.

It is intolerable that the France trade deficit worsens, while the Germany or China display impressive trade surpluses, first with their most successful SMEs. Where are our Champions world size SMEs We have no new "champions" industrial world, the image of SMEs German, Indian, or Chinese, if they are not investors to finance their growth.

Raymond Barre had recalled one day: "the economy is venge always."If the France does not want to know a "1939" economic or industrial fabric agile and efficient, if it wants to get out quickly and strengthened from the crisis, unlike previous crises, will take it to show courage and determination. The clock is ticking!