European Commission 27 March 2014, COMMISSION STAFF WORKING DOCUMENT Long-Term Financing of the European Economy Accompanying the document COMMUNICATION FROM THE COMMISSION TO THE EUROPEAN PARLIAMENT AND THE COUNCIL on Long-Term Financing of the European Economy

52014SC0105 COMMISSION STAFF WORKING DOCUMENT Long-Term Financing of the European Economy Accompanying the document COMMUNICATION FROM THE COMMISSION TO THE EUROPEAN PARLIAMENT AND THE COUNCIL on Long-Term Financing of the European Economy /* SWD/2014/0105 final */ Overview of EU initiatives to support SMEs’ access to finance Introduction SMEs’ particular dependence on bank funding has made them