For this reason, considering the whole from the viewpoint of one of the parts is necessarily simplistic and biased. The crisis has highlighted the tendency of all Member States to bring their own ways of facing the problems and their own a priori considerations to group discussions.
In addition, formal financial institutions assume that extension of credit to these SMEs would require high monitoring and enforcement costs. Both these supply and demand related factors remain major handicaps to the development of medium to long term financing.